Bright Smart Securities & Commodities, a Hong Kong-based brokerage, made an announcement on 26 April 2025. Its chairman, Yip Mow-lum, agreed to sell his entire 50.55% stake. The buyer is Ant Group, the fintech arm of Alibaba. The transaction is valued at approximately HK$2.81 billion and is part of the Ant Group Bright Smart Securities acquisition.
The shares almost reach 858 million in numbers, and are sold to Wealthiness and Prosperity Holding Ltd., ultimately controlled by the Chinese fintech giant Jack Ma.
The Standard reports that the Ant Group Bright Smart Securities acquisition deal is priced at HK$3.28 per share. This is about 17.6% higher than Bright Smart’s closing price on Tuesday, before trading was suspended.
The offeror plans to keep the shares listed on the stock exchange but may use compulsory acquisition powers if the required acceptance thresholds are met, as stated in an HKEX exchange filing.
Bright Smart has stated that the offeror apparently does not plan to make significant changes to the current business operations.
However, after the offer closes, the offeror purportedly plans to reduce the final dividend compared to previous years. This adjustment is intended to strengthen infrastructure, upgrade technology, and improve operational efficiency.
The financial advisor for Ant is Morgan Stanley Asia Limited. Trading in Bright Smart shares will resume at 9 am on Monday, 28 April 2025.
Aside from the completion of this Ant Group Bright Smart Securities acquisition, Ant Group has been leveraging its Alipay platform and AI. The aim is to drive digital transformation across industries, including healthcare.
For example, by partnering with medical institutions, doctors, and insurers in China, Ant Group aims to deliver more efficient, accessible, and personalised services. This is to meet the growing healthcare demands of the Chinese population.
Source of main image: Edited from Freepik