Bright Smart: Morgan Stanley Capital Services Logs Paired 52,000-Unit Derivative Trades at HK$12.25 Amid Possible Mandatory Offer

Bulletin Express04-29

Hong Kong’s Takeovers Executive disclosed that Morgan Stanley Capital Services LLC, classified as a Class (5) associate of the offeror in a possible mandatory general offer for Bright Smart Securities & Commodities Group Limited (Bright Smart), executed matched derivative transactions on 28 April 2026.

The U.S. investment bank’s derivatives desk facilitated an unsolicited client purchase and a corresponding sale, each covering 52,000 reference shares of Bright Smart. Both legs mature on 29 May 2026 and were priced at HK$12.25 per reference share, translating into approximately HK$0.64 million for each side of the trade.

Following completion, Morgan Stanley Capital Services reported a resultant balance of zero, indicating that the positions were fully offset. All dealings were conducted on the firm’s own account.

Morgan Stanley Capital Services LLC is ultimately owned by Morgan Stanley. The disclosure was made under Rule 22 of the Hong Kong Code on Takeovers and Mergers in connection with the potential mandatory general offer for Bright Smart.

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