Bright Smart: Morgan Stanley Logs HK$7.18 Million in Derivative Share Sales, Triggering Takeover Code Disclosure

Bulletin Express04-20

On 20 April 2026, the Executive received a Rule 22 disclosure under the Hong Kong Code on Takeovers and Mergers concerning dealings in Bright Smart Securities & Commodities Group Limited (Bright Smart) shares by Morgan Stanley & Co., International plc (MSIP), a Class (5) associate of the potential offeror.

Transaction snapshot (17 April 2026): • Nature of instruments: Derivatives classified as “other types of products” • Trade capacity: Unsolicited client facilitation, executed for MSIP’s own account • Aggregate volume: 620,000 reference shares • Net position: 600,000-share disposal

Value analysis: • Purchases: 10,000 reference shares at HK$11.74 each, totalling HK$0.12 million • Sales: 610,000 reference shares at a weighted average price of HK$11.78, generating HK$7.18 million • Net cash flow: HK$7.06 million received

Maturity / closing-out timetable: • Purchase: 29 May 2026 • Sales: 21 October 2026 and 5 October 2026 (594,000 shares), 29 November 2029 (8,000 shares), and 28 June 2030 (8,000 shares)

Post-transaction holding: MSIP reported a resultant balance of zero Bright Smart shares (including any agreed holdings of related parties), indicating no residual position after the disclosed trades.

Compliance context: As MSIP is connected with the potential offeror, the transactions were reported under the mandatory general offer provisions, ensuring market transparency during the ongoing offer process.

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market transparency during the ongoing offer process.</p>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"01428","symbol_name":"耀才证券金融","start_time":0,"source_url":"","article_id":"1166940419","we_media_id":"1053168898","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1166940419","pubTimestamp":1776676977,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Bulletin Express","introduction":"Full Coverage of HK & US Stock Announcements","home_visible":1,"id":"1053168898","head_image":"https://community-static.tradeup.com/news/ed558ed0402cbe7d1ef4d150458f2b2e"},"summary":"On 20 April 2026, the Executive received a Rule 22 disclosure under the Hong Kong Code on Takeovers and Mergers concerning dealings in Bright Smart Securities & Commodities Group Limited 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