Morgan Stanley Capital Services Reports Matched Derivative Trades in Bright Smart Amid Possible Mandatory Offer

Bulletin Express03-26

26 March 2026 — Morgan Stanley Capital Services LLC, classified as a Class (5) associate connected with the prospective offeror, submitted a Rule 22 disclosure detailing derivative transactions linked to Bright Smart Securities & Commodities Group Limited.

On 25 March 2026, the firm facilitated unsolicited client transactions involving 4,000 reference shares of Bright Smart through “other” derivative products. Both the purchase and the corresponding sale were executed at a reference price of HK$12.72 per share, each generating a cash flow of HK$50,880.00. The trades share a common maturity/closing date of 29 May 2026, and the resultant position was fully squared, leaving Morgan Stanley Capital Services with a zero balance in the referenced securities.

The disclosure forms part of the ongoing monitoring process related to a possible mandatory general offer for Bright Smart. Morgan Stanley Capital Services confirmed that the dealings were conducted solely for its own account and that it is ultimately owned by Morgan Stanley.

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