Bright Smart: Morgan Stanley Discloses HKD 8.35 Million Share Dealings Linked to Prospective Mandatory General Offer

Bulletin Express03-30

The Executive of the Hong Kong Takeovers and Mergers Panel has published securities‐dealing disclosures showing that Morgan Stanley & Co., International plc, a Class (5) associate of the potential offeror for Bright Smart Securities & Commodities Group Limited (Bright Smart), executed two hedging transactions in Bright Smart shares on 27 March 2026.

Morgan Stanley purchased 484,000 Bright Smart shares for approximately HKD 6.40 million, paying HKD 13.2163 per share. On the same day it sold 148,000 shares for about HKD 1.95 million, with sale prices ranging between HKD 13.06 and HKD 13.18 per share.

The trades were undertaken on Morgan Stanley’s own account to hedge Delta-1 products created from wholly unsolicited client-driven orders. The disclosure is made under Rule 22 of the Hong Kong Code on Takeovers and Mergers in the context of a possible mandatory general offer for Bright Smart shares.

Morgan Stanley & Co., International plc is ultimately owned by Morgan Stanley. All figures are based solely on information contained in the public disclosure dated 30 March 2026.

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