Bright Smart clarifies report of deal delay, stock falls (updated)

Bright Smart Securities & Commodities

15/08/2025 10:17

Add Ant's comment, update stock price

** Shares of Bright Smart Securities & Commodities Group 1428.HK drop as much as 26.2% to HK$10.26, lowest since July 8

** Stock of the brokerage ended 7.9% lower on Friday

** Ant's Bright Smart deal may face higher regulatory scrutiny and could be delayed, Wall Streel Journal reported

** Bright Smart says it noted media reports suggesting there would be a possible delay of the acquisition due to tightened regulatory scrutiny from Chinese authorities, including National Development and Reform Commission

** "The company wishes to clarify that, upon enquiry with the offeror, it understands that the relevant procedures with regard to the acquisition with the relevant authorities are progressing as planned" - Co

** Ant: Relevant procedures regarding the acquisition are moving forward as planned

** Ant, an affiliate of Alibaba 9988.HK, is buying a 50.55% controlling stake in Bright Smart Securities for $362 million

** Benchmark Hang Seng Index .HSI falls 1%

** YTD, Bright Smart up 461.4%

 (Reporting by Donny Kwok and Ziyi Tang)

 ((donny.kwok@thomsonreuters.com))