Morgan Stanley Discloses Significant Share Dealings in Bright Smart Securities & Commodities Group Limited

Key Points

• Date of Disclosure: 9 March 2026
• Subject: Disclosure of dealings in the shares of Bright Smart Securities & Commodities Group Limited (Bright Smart) in relation to a possible mandatory general offer.
• Party Involved: Morgan Stanley & Co., International plc, acting as a Class (5) associate connected with the Offeror.
• Type of Securities: Ordinary shares of Bright Smart.
• Nature of Dealings: Hedging of Delta 1 products created as a result of wholly unsolicited client-driven orders.

Details of Transactions

• Purchases:
  • Date: 6 March 2026
  • Number of Shares Purchased: 10,000
  • Total Amount Paid: \$75,902.00
  • Price Range: Highest price per share at \$7.6370; lowest price per share at \$7.5400
• Sales:
  • Date: 6 March 2026
  • Number of Shares Sold: 502,000
  • Total Amount Received: \$3,820,293.12
  • Price Range: Highest price per share at \$7.7800; lowest price per share at \$7.3900

Shareholder Implications and Price Sensitivity

This disclosure is potentially price-sensitive for shareholders of Bright Smart Securities & Commodities Group Limited. The substantial volume of shares sold (502,000 shares) and purchased (10,000 shares) by Morgan Stanley & Co., International plc may indicate significant movements in the market and could impact the share price.

Importantly, these dealings are related to hedging activities for Delta 1 products, which are typically closely linked to the underlying share price and often result from client-driven orders. While Morgan Stanley indicates these were wholly unsolicited and for its own account, the large sale volume could signal possible expectations of further market activity or changes in shareholding structure, especially given the context of a possible mandatory general offer.

Shareholders should monitor further disclosures closely, as additional large-volume trades, especially by associates of an offeror, may precede material corporate actions such as takeovers, mergers, or significant shareholding changes.

Additional Notes

• Morgan Stanley & Co., International plc is ultimately owned by Morgan Stanley, a major global financial institution.
• These dealings were made for Morgan Stanley’s own account, not as an agent or for clients.
• The disclosure was made pursuant to Rule 22 of the Hong Kong Code on Takeovers and Mergers, further highlighting its relevance in the context of a possible mandatory general offer.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Investors should conduct their own research or consult with a financial adviser before making investment decisions. The information above is based on official disclosures and may be subject to change. No liability is accepted for any loss or damage arising from actions taken based upon this information.

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