On 7 November 2025, a public disclosure form was published regarding the privatisation of Hang Seng Bank Limited by way of a scheme of arrangement. According to the Hong Kong Code on Takeovers and Mergers, the Executive received details of securities dealings in the offeree company’s shares by Morgan Stanley & Co. International plc.
Morgan Stanley & Co. International plc executed multiple derivative transactions on 6 November 2025, involving sales of 32,200 reference securities at various reference prices ranging from HKD151.8534 to HKD151.9015. The single largest sale comprised 22,400 reference securities at a reference price of HKD151.8947, amounting to approximately HKD3.40 million. Purchases accounted for a total of 1,222 reference securities, with the largest purchase involving 1,000 reference securities at HKD151.8645.
Morgan Stanley & Co. International plc is a Class (5) associate connected with Hang Seng Bank Limited. The dealings were made for its own account and the entity is ultimately owned by Morgan Stanley.