Morgan Stanley subsidiary active in Bright Smart Securities derivatives amid acquisition

On December 15, 2025, Morgan Stanley & Co. International plc disclosed multiple dealings in Bright Smart Securities & Commodities Group Limited (HKEX:1428) derivatives. These transactions, made for its own account, included sales of 4,000 reference securities at $7.4400 and 32,000 at $7.4325, and purchases of 93,862 at $7.4329 and 210,138 at $7.4329. These dealings are noted as "unsolicited client facilitation" activities.

The disclosures follow a joint announcement on April 25, 2025, detailing a share purchase agreement where Wealthiness and Prosperity Holding Limited, the Offeror, agreed to acquire 857,980,000 shares (50.55%) of Bright Smart Securities from New Charming Holdings Limited for HK$2,814,174,400. This acquisition, which had not been completed by September 30, 2025, triggers a mandatory cash offer for all remaining issued shares. An amendment on November 25, 2025, extended the long stop date to March 25, 2026.