On May 15, 2025, Bright Smart Securities and Commodities Group Ltd. disclosed securities dealings under Rule 22 of the Hong Kong Code on Takeovers and Mergers. The disclosure revealed that on May 14, 2025, Morgan Stanley Capital Services LLC engaged in unsolicited client dealings involving derivatives related to 42,000 commercial papers. The maturity date for these derivatives is March 15, 2027, with a reference price of $6.8381 and a total amount of $287,200.0001 paid or received. Morgan Stanley Capital Services LLC is a Class (5) associate connected with the Offeror and is ultimately owned by Morgan Stanley.
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