Bright Smart Securities & Commodities Group Limited: Possible Mandatory General Offer Disclosure

Bulletin Express11-27

On 27 November 2025, a disclosure was made regarding dealings in the shares of Bright Smart Securities & Commodities Group Limited under Rule 22 of the Hong Kong Code on Takeovers and Mergers. According to the filing, Morgan Stanley Capital Services LLC, a Class (5) associate connected with the Offeror and ultimately owned by Morgan Stanley, conducted two derivatives transactions on 26 November 2025. These transactions involved an unsolicited client facilitation sale and purchase of 54,000 reference securities each, both at a price of $8.0887 with a total amount of $436,792. The instruments have a maturity date of 20 June 2030, and the resultant balance was recorded as zero.

Morgan Stanley Capital Services LLC made these dealings for its own account. No further details were provided regarding the underlying intentions or any additional shareholdings beyond these transactions.

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