On 14 November 2025, a Public Disclosure Form was released regarding the privatisation of Hang Seng Bank Limited by way of a scheme of arrangement. According to the information provided under Rule 22 of the Hong Kong Code on Takeovers and Mergers, Morgan Stanley & Co. International plc reported dealings in Hang Seng Bank Limited’s ordinary shares on 13 November 2025.
Morgan Stanley & Co. International plc purchased a total of 200,355 ordinary shares for US$30,408,189.9740, with the highest price paid at US$151.9000 and the lowest price at US$151.1000. It also sold 2,600 ordinary shares for US$394,498.1000, at a highest price of US$151.9000 and a lowest price of US$151.6050. These transactions were conducted as hedging activities stemming from wholly unsolicited client-driven orders.
Morgan Stanley & Co. International plc is a Class (5) associate connected with the offeree company and carried out the dealings for its own account. It is ultimately owned by Morgan Stanley.