On 6 November 2025, an announcement was published regarding the privatisation of Hang Seng Bank Limited by way of a scheme of arrangement. The document discloses that Morgan Stanley Capital Services LLC, a Class (5) associate ultimately owned by Morgan Stanley, executed a series of derivative transactions referencing shares of Hang Seng Bank Limited on 5 November 2025.

According to the filing, Morgan Stanley Capital Services LLC made multiple purchases and sales under unsolicited client facilitation. These transactions covered various maturities set between January 2026 and October 2026, with reference prices ranging from approximately $151.73 to $151.90. Individual transaction sizes ranged from 100 shares to over 100,000 shares, with the largest single transaction referencing 116,300 shares. The total amounts paid or received in each corresponding purchase or sale were equal, resulting in a resultant balance of zero for each transaction.

The document notes that these dealings were made for Morgan Stanley Capital Services LLC’s own account. No further details on subsequent shareholdings or implications for the privatisation were included in the announcement.