Bright Smart – Morgan Stanley Divests 186,000 Shares in Hedging Trade Ahead of Potential Mandatory General Offer

Bulletin Express04-14

Hong Kong’s Takeovers Executive disclosed on 14 April 2026 that Morgan Stanley & Co. International plc, a Class (5) associate linked to the prospective offeror for Bright Smart Securities & Commodities Group Limited (Bright Smart), sold 186,000 ordinary shares of Bright Smart on 13 April 2026.

The sale, executed to hedge Delta 1 products created from wholly unsolicited client-driven orders, generated proceeds of USD 2.29 million. Transaction prices ranged between USD 12.60 (highest) and USD 12.16 (lowest) per share.

According to the filing, the dealings were carried out for Morgan Stanley & Co. International plc’s own account. The firm is ultimately owned by Morgan Stanley and, as a Class (5) associate, is regarded as connected with the potential offeror under the Hong Kong Code on Takeovers and Mergers.

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