Morgan Stanley Class-5 Associate Trades 125,781 Bright Smart Shares Amid Possible Mandatory Offer

Bulletin Express04-24

Bright Smart Securities & Commodities Group Limited (Bright Smart) disclosed that Morgan Stanley & Co. International plc—a Class (5) associate connected with the potential offeror—executed two hedge-related transactions in Bright Smart shares on 23 April 2026. The trades were undertaken to hedge Delta-1 products arising from wholly unsolicited, client-driven orders.

On the purchase side, Morgan Stanley bought 120,000 ordinary shares for HK$1.54 million, all executed at HK$12.82 per share. Conversely, 5,781 shares were sold for HK$0.07 million, with execution prices ranging from HK$12.86 to HK$13.10, translating to an average disposal price of approximately HK$12.95.

The transactions form part of the disclosure requirements under Rule 22 of the Hong Kong Code on Takeovers and Mergers, as Bright Smart remains subject to a possible mandatory general offer. Morgan Stanley confirmed the dealings were made on its own account.

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