It boosted its offer price to $35.075 from $30.50.
Television Broadcasts Ltd. sweetened the terms of its share buyback offer after Hong Kong’s dominant free-to-air TV broadcaster received an unsolicited bid for 29.9 percent of the company from TLG Movie & Entertainment Group. The shares jumped to the highest since August 2015.
TVB, which announced plans to repurchase as many as 138 million shares on Jan. 24, boosted its offer price to HK$35.075 from HK$30.50 and cut the amount of shares to be purchased to 120 million, according to a filing Monday. The stock gained as much as 13 percent to HK$34.25 as of noon in Hong Kong.
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