Hong Kong, 20 March 2026 — Bright Smart Securities & Commodities Group Limited (01428) today reported to the Executive under Rule 22 of the Hong Kong Code on Takeovers and Mergers that Morgan Stanley Capital Services LLC (MSCS), a Class (5) associate of the potential offeror, undertook matched purchase and sale transactions in derivatives referencing Bright Smart shares on 19 March 2026.
Key disclosure highlights • Nature of transactions: Unsolicited client facilitation in “other types of products” linked to Bright Smart shares. • Volume: 134,000 reference shares purchased and an equal 134,000 reference shares sold. • Consideration: Aggregate purchase consideration totalled HK$1.76 million; aggregate sale proceeds matched the same amount. • Pricing: Reference prices ranged from HK$12.66 to HK$13.20 per share across four maturities—29 May 2026, 30 October 2026, 19 April 2027 and 30 November 2027. • Resultant position: Zero net balance in Bright Smart-linked derivatives after the offsetting trades. • Principal status: Transactions were executed for MSCS’s own account; the firm is ultimately owned by Morgan Stanley and is deemed a connected person to the potential offeror.
The disclosure forms part of the ongoing monitoring process tied to a possible mandatory general offer for Bright Smart, as stipulated by the Hong Kong Code on Takeovers and Mergers. No additional shareholdings or outstanding derivative positions were reported following the matched trades.
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