Bright Smart Securities & Commodities Group Limited: Possible Mandatory General Offer Disclosure

Bulletin Express12-04

Bright Smart Securities & Commodities Group Limited announced on 4 December 2025 that the Executive received a disclosure of dealings under Rule 22 of the Hong Kong Code on Takeovers and Mergers. The disclosure involves Morgan Stanley & Co., International plc, which is a Class (5) associate connected with the Offeror.

According to the disclosure, Morgan Stanley & Co., International plc carried out several derivative transactions on 3 December 2025 involving unsolicited client facilitation sales of 6,000 underlying securities at HKD 7.4133, 6,000 at HKD 7.4667, and 24,000 at HKD 7.4233. These transactions, each with a resultant balance of zero, were made for Morgan Stanley & Co., International plc’s own account. The entity is ultimately owned by Morgan Stanley.

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