Morgan Stanley & Co., International plc disclosed dealings in HKBN Ltd. shares under Rule 22 of the Hong Kong Code on Takeovers and Mergers. On 21 July 2025, the firm purchased 75,500 ordinary shares for a total of $376,402.8635 and sold 14,500 shares for $72,485. The transactions were related to hedging of Delta 1 products from unsolicited client-driven orders. Morgan Stanley & Co., International plc is connected with the Offeree company and made these dealings for its own account.
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