BRIGHT SMART Securities' over 50% equity transferred to Ant Group, triggering a full acquisition. Resumes trading on Monday

BRIGHT SMART (01428.HK) announced that Chairman Ye Maolin transferred 50.55% of his shares to Ant Group (the offeror), involving 857 million shares; the total consideration is HKD 2.814 billion, equivalent to a price of HKD 3.28 per share. Upon completion, the offeror and its concert parties will hold 50.55% of the company's equity and are required to make a mandatory general offer at a cash price of HKD 3.28 per share, representing a premium of 7.54% over the last closing price before the suspension. The maximum amount involved is HKD 5.285 billion.

After the offer deadline, the offeror intends to adjust the proposed final dividend amount compared to the previous fiscal year, as well as nominate new directors to join the board and replace several directors of the company's subsidiaries. At the same time, it intends to maintain the company's listing status. Currently, Ant Group is indirectly held 33% by Alibaba (09988.HK).

The company's shares have applied to resume trading on Monday (28th)