Public Disclosure: Key Share Dealing by Morgan Stanley & Co., International plc in Bright Smart Securities & Commodities Group Limited

Date of Disclosure: 20 February 2026

Subject: Potential Mandatory General Offer – Share Dealings in Bright Smart Securities & Commodities Group Limited

Key Points from the Disclosure

• Party Involved: Morgan Stanley & Co., International plc, a major global financial institution, disclosed significant trading activity involving shares of Bright Smart Securities & Commodities Group Limited.
• Date of Transaction: 16 February 2026.
• Nature of Dealings: The transaction was related to the hedging of Delta 1 products, which arose from wholly unsolicited, client-driven orders. This indicates that the activity was not proprietary speculation, but rather a response to client demand.
• Type of Security: Ordinary shares of Bright Smart Securities & Commodities Group Limited.
• Transaction Type: Sale of shares.
• Total Number of Shares Sold: 60,000.
• Total Amount Received: \$544,320.00.
• Price Range: Shares were sold at prices ranging from a high of \$9.20 to a low of \$9.03 per share.
• Ownership: Dealings were made for Morgan Stanley & Co., International plc’s own account. The company is ultimately owned by Morgan Stanley.
• Regulatory Context: The disclosure was made in compliance with Rule 22 of the Hong Kong Code on Takeovers and Mergers and is related to a possible mandatory general offer situation.

Implications for Shareholders and Investors

• Potential Share Price Impact: The sale of 60,000 shares by a major financial institution, even if driven by client orders and hedging needs, may put downward pressure on the share price, especially within a price range of \$9.03 to \$9.20.
• Price Sensitivity: The disclosure of such dealings is considered price sensitive. Investors should monitor for further similar transactions or any developments regarding a possible mandatory general offer, as these could influence market sentiment and the valuation of Bright Smart Securities & Commodities Group Limited.
• Regulatory Watch: The context of a possible mandatory general offer signals heightened corporate activity. Investors should remain alert for any official offer announcements or changes in shareholding structure, which could lead to significant movements in share price.
• Market Transparency: The proactive disclosure by Morgan Stanley & Co., International plc enhances transparency and allows investors to make more informed decisions regarding their holdings in Bright Smart Securities & Commodities Group Limited.

Conclusion

The recent disclosure of share dealings by Morgan Stanley & Co., International plc in Bright Smart Securities & Commodities Group Limited is a notable event, especially in the context of a possible mandatory general offer. With 60,000 shares sold in a narrow price band, and the involvement of a major financial institution, this transaction is likely to be scrutinized by market participants for its potential impact on share value and future corporate actions.

Disclaimer: The information provided in this article is based solely on public disclosures and is intended for informational purposes only. It should not be construed as investment advice or a recommendation to buy or sell any securities. Investors should conduct their own due diligence and consult with their financial advisors before making investment decisions. The author and publisher are not liable for any losses or damages arising from the use of this information.

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