Details of the Dealings

Morgan Stanley & Co., International plc, a Class (5) associate connected with the Offeror, conducted the following dealings on 25 February 2026:

• Purchase of Shares:
  • Nature: Hedging of Delta 1 products created as a result of wholly unsolicited client-driven orders
  • Number of Shares Purchased: 30,000
  • Total Amount Paid: \$266,440.00
  • Price Range: Highest price paid \$8.93, Lowest price paid \$8.85
• Sale of Shares:
  • Nature: Hedging of Delta 1 products created as a result of wholly unsolicited client-driven orders
  • Number of Shares Sold: 136,000
  • Total Amount Received: \$1,204,860.00
  • Price Range: Highest price received \$8.94, Lowest price received \$8.80

It is important to note that these transactions were made for Morgan Stanley & Co., International plc’s own account, and the company is ultimately owned by Morgan Stanley.

Potential Price-Sensitive Information for Shareholders

• This disclosure has been made in the context of a possible mandatory general offer for Bright Smart Securities & Commodities Group Limited. Such corporate activity is typically price-sensitive and may impact the share price significantly.
• Morgan Stanley’s involvement as a Class (5) associate and its active trading in the company’s shares through both purchases and sales could indicate increased interest or positioning ahead of a potential takeover or offer situation.
• The volume of shares traded (166,000 shares in total) and the trading price range (\$8.80 – \$8.94) may set a short-term reference range for the stock’s valuation.
• Investors should monitor further disclosures closely, as any mandatory general offer could result in a re-rating of the share price or increased volatility.

Additional Insights for Investors

• Context of Hedging: The transactions were carried out as part of hedging for Delta 1 products, which are typically linear derivatives whose value tracks the underlying asset (in this case, the shares of Bright Smart Securities & Commodities Group Limited). Such activity, particularly when linked to unsolicited client-driven orders, suggests market demand and institutional interest in the underlying stock.
• Implications: The presence of a major financial institution like Morgan Stanley, engaged in significant trading activity and associated with a possible mandatory general offer, is a material event for shareholders. It underscores the possibility of ongoing or impending corporate action that could affect the company’s ownership structure and stock market performance.

Conclusion

The latest disclosure from Morgan Stanley & Co., International plc regarding its dealings in the shares of Bright Smart Securities & Commodities Group Limited is a potentially price-moving event, primarily due to the context of a possible mandatory general offer. Investors should remain vigilant and seek further updates, as developments in this area could have a direct impact on share value and trading activity in the near future.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Investors should conduct their own research or consult a professional advisor before making investment decisions. The author and publisher are not responsible for any loss resulting from reliance on the information provided herein.

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