Stock Track | Bright Smart Securities Soars 64.62% at Market Open as Ant Group Clears Regulatory Hurdles for $359 Million Acquisition

Stock Track
03/17

Bright Smart Securities & Commodities Group Ltd. (stock code: 01428) saw its shares surge 64.62% at the market open on Tuesday. The significant upward movement followed the resumption of trading after a brief halt.

The sharp increase is directly attributed to the announcement that Ant Group has satisfied all regulatory conditions for its acquisition of a controlling stake in the brokerage. Ant Group, founded by billionaire Jack Ma and partly owned by Alibaba, is set to close its HK$2.81 billion (approximately $359 million) purchase of a 50.55% stake in Bright Smart by the end of the month. The company received the necessary approval from the Securities and Futures Commission of Hong Kong, clearing the final hurdle for the deal announced in April 2025.

The transaction involves Ant Group's subsidiary, Wealthiness and Prosperity Holding, acquiring 857.98 million shares from Bright Smart Chairman Yip Mow Lum at HK$3.28 per share. The parties expect the acquisition to be completed on March 30, 2026, which will be followed by a possible unconditional mandatory cash offer for the remaining Bright Smart shares.

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