Bright Smart Securities and Commodities Group Ltd. has disclosed internal dealings under the Hong Kong Code on Takeovers and Mergers. The disclosure, dated May 21, 2025, reveals transactions involving Morgan Stanley & Co., International plc. On May 20, 2025, Morgan Stanley purchased 12,000 ordinary shares totaling $70,270 and sold 662,000 ordinary shares for $4,113,770. These dealings were conducted as part of hedging Delta 1 products resulting from wholly unsolicited client-driven orders. Morgan Stanley & Co., International plc, a Class (5) associate connected with the Offeror, undertook these transactions for its own account.
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