HONG KONG — Bright Smart Securities (1428.HK) resumed trading today (April 28) and soared by 66% to close at HK$5.07 at midday, hitting a record high after Ant Group formally launched a full acquisition offer. The proposed deal, priced at HK$3.28 per share, covers approximately 50.55% of Bright Smart’s shares, amounting to a total consideration of around HK$2.814 billion.
Bright Smart Securities stated that the partnership with Ant Group would accelerate its digital transformation and enhance platform technology and operational efficiency. Industry experts noted that the collaboration would allow both parties to integrate customer resources and technological advantages, capitalizing on investment opportunities driven by southbound capital flows.
The brokerage had suspended trading on April 23 after its stock price jumped 9.32% to HK$3.05. Its strong rebound today reflects the market’s positive reception of the acquisition proposal.
Bright Smart Securities, a long-established Hong Kong brokerage, provides trading services across the Hong Kong, U.S., and Shanghai-Shenzhen Stock Connect markets.
