Bright Smart – Morgan Stanley Discloses Net Sale of 32,000 Shares Under HK Takeovers Code

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Bright Smart Securities & Commodities Group Limited (Bright Smart) announced that, on 23 March 2026, Morgan Stanley & Co. International plc—classified as a Class (5) associate connected with the potential offeror—executed delta-1 hedging transactions in Bright Smart shares under wholly unsolicited client-driven orders, triggering disclosure under Rule 22 of the Hong Kong Code on Takeovers and Mergers.

Morgan Stanley purchased 2,000 Bright Smart shares for HK$22,320, representing a unit price of HK$11.16. On the same day, it sold 34,000 shares for HK$391,820, with prices ranging from HK$11.18 to HK$12.89. The resulting net position was a disposal of 32,000 shares and net proceeds of HK$369,500, equivalent to approximately HK$0.37 million.

All trades were booked on Morgan Stanley’s own account. The disclosure relates to a possible mandatory general offer for Bright Smart and forms part of ongoing reporting requirements under the Takeovers Code.

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