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Finance

US-based I Squared Capital to finalise offer for Hong Kong's HKBN

Published by Global Banking & Finance Review

Posted on April 3, 2025

1 min read

· Last updated: April 3, 2025

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I Squared Capital Nears Final Offer for HKBN in Hong Kong

(Reuters) - U.S.-based infrastructure investment firm I Squared Capital is finalising the terms of a possible pre-conditional offer for Hong Kong-listed HKBN, the broadband operator said on Thursday.

Sources told Reuters in January that the offer could value HKBN at up to $1 billion.

If the offer materialises, it would rival China Mobile's HK$5.23 per share offer tabled last December.

According to the same sources, I Squared Capital was not keen on offering more than HK$6 apiece for the telecommunications firm.

Founded in 1999, HKBN provides internet, data centre and WiFi services, among others.

The Hong Kong firm currently holds a market value of HK$7.27 billion ($933.93 million) with a share price of HK$5.21.

($1 = 7.7843 Hong Kong dollars)

(Reporting by Sneha Kumar in Bengaluru; Editing by Alan Barona)

Key Takeaways

  • I Squared Capital is finalizing an offer for HKBN.
  • The offer could value HKBN at up to $1 billion.
  • China Mobile previously offered HK$5.23 per share.
  • I Squared may offer up to HK$6 per share.
  • HKBN's current market value is HK$7.27 billion.

Frequently Asked Questions

What is the main topic?
The main topic is I Squared Capital's potential offer for Hong Kong's HKBN, which could value the company at up to $1 billion.
Who is competing with I Squared Capital?
China Mobile is a competitor, having previously made an offer for HKBN at HK$5.23 per share.
What services does HKBN provide?
HKBN provides internet, data center, and WiFi services in Hong Kong.

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