Bright Smart Securities and Commodities Group Ltd. announced a disclosure of internal dealings under Rule 22 of the Hong Kong Code on Takeovers and Mergers. On 3 June 2025, Morgan Stanley Capital Services LLC engaged in unsolicited client facilitation transactions involving derivatives of Bright Smart's commercial paper. The dealings included both purchases and sales, with notable transactions involving 554 and 2,000 reference securities maturing on 18 December 2026 and 30 October 2026, respectively. These dealings were made for Morgan Stanley's own account, as the firm is a Class (5) associate connected with the Offeror.
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