Morgan Stanley affiliate trades Bright Smart Securities ahead of potential offer

On September 16, 2025, a public disclosure form revealed that Morgan Stanley & Co., International plc, a Class (5) associate connected with the Offeror, engaged in dealings involving ordinary shares of Bright Smart Securities & Commodities Group Limited. These dealings, made for its own account, occurred on September 15, 2025, and relate to a possible mandatory general offer.

The disclosure shows that Morgan Stanley & Co., International plc purchased 14,000 ordinary shares for a total of $157,840. The highest price paid for these shares was $11.30, and the lowest was $11.22. Additionally, the firm sold 10,000 ordinary shares for a total of $112,280, with prices ranging from a high of $11.25 to a low of $11.20.

Both sets of transactions were described as hedging of Delta 1 products created as a result of wholly unsolicited client-driven orders. Morgan Stanley & Co., International plc is ultimately owned by Morgan Stanley.