Morgan Stanley & Co. International Reports Net Purchase of 118,000 Bright Smart Shares Ahead of Possible Mandatory General Offer

Bulletin Express04-21

Bright Smart Securities & Commodities Group Limited disclosed that Morgan Stanley & Co. International plc (a Class 5 associate connected with the potential offeror) executed opposite‐direction trades in Bright Smart shares on 20 April 2026 under Rule 22 of Hong Kong’s Takeovers and Mergers Code.

• Transaction profile – Purpose: Hedging of Delta 1 products created by wholly unsolicited client-driven orders. – Nature: One purchase and one sale conducted for Morgan Stanley & Co. International’s own account.

• Trade specifics – Purchase: 140,000 ordinary shares for HK$1.66 million, at prices between HK$11.71 and HK$11.98 per share; weighted average purchase price approximately HK$11.85. – Sale: 22,000 ordinary shares for HK$0.26 million, executed at HK$11.93 per share. – Net position: After netting the two legs, Morgan Stanley & Co. International increased its holding by 118,000 shares, representing a net cash outflow of roughly HK$1.40 million.

The disclosure forms part of the ongoing process related to a possible mandatory general offer for Bright Smart. Morgan Stanley & Co. International remains ultimately owned by Morgan Stanley.

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International Reports Net Purchase of 118,000 Bright Smart Shares Ahead of Possible Mandatory General Offer\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1053168898\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://community-static.tradeup.com/news/ed558ed0402cbe7d1ef4d150458f2b2e);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Bulletin Express </p>\n<p class=\"h-time\">2026-04-21 17:43</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>Bright Smart Securities & Commodities Group Limited disclosed that Morgan Stanley & Co. 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