Broadband operator HKBN (HKG:1310) said TPG Wireman agreed to sell 144,966,345, or 10.39%, shares in company to China Mobile (HKG:0941) for around HK$758.2 million, a Tuesday filing with the Hong Kong bourse said.
TPG Wireman will also convert the certain convertible bonds in full into 83,661,106 new shares, and sell the converted shares to China Mobile for roughly HK$437.5 million.
The bonds comprise a HK$970.5 million zero coupon subordinated unsecured perpetual convertible vendor loan issued by HKBN to TPG Wireman.
Following completion, China Mobile will own a total of 228,627,451 shares in HKBN, representing approximately 15.46% of the latter's enlarged issued share capital.
Chinese wireless carrier China Mobile (HKG:0941) had launched a takeover offer for HKBN in early December 2024.
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