Morgan Stanley reports dealings in Bright Smart Securities ahead of potential offer

On November 20, 2025, Morgan Stanley Capital Services LLC disclosed dealings in Bright Smart Securities & Commodities Group Limited shares, as per Rule 22 of the Hong Kong Code on Takeovers and Mergers. These dealings were in connection with a possible mandatory general offer. Made for Morgan Stanley Capital Services LLC's own account, the transactions show both a sale and a purchase of derivatives related to Bright Smart Securities.

The transactions involved 22,000 units each, with a maturity date of June 20, 2030, and a reference price of $7.1536. The total amount received from the unsolicited client facilitation – sale was $157,379.9999, while the total amount paid for the unsolicited client facilitation – purchase was also $157,379.9999. Following these transactions, the resultant balance for both dealings is 0.

Morgan Stanley Capital Services LLC is identified as a Class (5) associate connected with the offeror and is ultimately owned by Morgan Stanley.