HKBN Ltd. has disclosed internal dealings under the Hong Kong Code on Takeovers and Mergers, involving Morgan Stanley & Co., International plc. On 3 July 2025, Morgan Stanley purchased 24,500 ordinary shares for $122,528.50 and sold 4,000 shares for $20,018.50. These transactions were related to hedging Delta 1 products resulting from unsolicited client-driven orders. Morgan Stanley & Co., International plc is a Class (5) associate connected with the Offeree company and made these dealings for its own account.
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