Bright Smart: Morgan Stanley Discloses USD 2.29 Million in Derivative Purchases Amid Possible Mandatory Offer

Bulletin Express04-14

The Executive of the Hong Kong Code on Takeovers and Mergers has received a Rule 22 disclosure detailing Morgan Stanley & Co. International plc’s dealings in the shares of Bright Smart Securities & Commodities Group Limited in the context of a possible mandatory general offer.

Morgan Stanley & Co. International plc—classified as a Class (5) associate connected with the potential offeror—executed three unsolicited client-facilitation purchases of derivative products linked to Bright Smart shares on 13 April 2026.

• 2,000 reference securities maturing on 29 May 2026 were bought at USD 12.20 each, for a total of USD 0.02 million. • 52,000 reference securities maturing on 21 October 2026 were bought at USD 12.3018 each, for a total of USD 0.64 million. • 132,000 reference securities maturing on 5 October 2026 were bought at USD 12.3018 each, for a total of USD 1.62 million.

Aggregate consideration across the three trades reached USD 2.29 million. All transactions were executed for Morgan Stanley’s own account, and the resultant balance in the relevant derivatives is reported as zero.

The disclosure underscores heightened activity around Bright Smart shares as regulatory processes for a potential mandatory general offer advance.

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