On 26 February 2026, a possible mandatory general offer involving Bright Smart Securities & Commodities Group Limited was announced. According to the disclosure received under Rule 22 of the Hong Kong Code on Takeovers and Mergers, Morgan Stanley & Co., International plc reported several derivative dealings on 25 February 2026. These transactions comprised unsolicited client facilitation purchases of 28,000, 43,200, and 64,800 reference securities at reference prices of $8.88 and $8.85, with total amounts of $0.25 million, $0.38 million, and $0.57 million respectively. Two sales were also executed, covering 8,000 and 22,000 reference securities at reference prices of $8.92 and $8.87, amounting to $0.07 million and $0.20 million respectively.
Morgan Stanley & Co., International plc is a Class (5) associate connected with the offeror and conducted these dealings for its own account. It is ultimately owned by Morgan Stanley.