On May 14, 2025, ESR Group Ltd. announced a disclosure of securities dealings under Rule 22 of the Hong Kong Code on Takeovers and Mergers. The disclosure, dated May 13, 2025, involves Morgan Stanley & Co., International plc, which engaged in the hedging of Delta 1 products through wholly unsolicited client-driven orders. The dealings included the purchase of 62,800 ordinary shares and the sale of 87,200 ordinary shares. Morgan Stanley & Co., International plc, a Class (5) associate connected with the Offeror, conducted these dealings for its own account.
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