Hong Kong Tech Firm’s Successful Share Buy-Back

Hong Kong Television Network (DE:XHN1) has released an update.

Hong Kong Technology Venture Company Limited has successfully concluded a conditional cash offer for a share buy-back, receiving acceptances for approximately 219.66% of the maximum number of shares proposed to be bought back, and will be proceeding to buy back 100,000,000 shares at HK$2.15 per share for a total of HK$215 million. The buy-back will consequently increase the Top Group Concert Group’s aggregate interest in the company from roughly 45.75% to between 51.55% and 51.72%. Completion of the offer is expected by 1 August 2024.

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