BRIGHT SMART (01428): Ant Group's acquisition offer deadline extended to March 25, 2026, with additional payment of HK$1.64 billion.

On November 25, BRIGHT SMART (01428) announced that it had signed a revised agreement with Ant Group to extend the acquisition offer period by 4 months, with the final deadline updated to March 25, 2026. At the same time, the amount of additional deposit was changed from 141 million Hong Kong dollars (5% of the total consideration for the sale of shares) to 164 million Hong Kong dollars, with Ant Group having already paid 164 million Hong Kong dollars as of the date of the announcement. According to regulatory requirements in both locations, the acquisition of BRIGHT SMART by Ant Group requires approval from the Securities and Futures Commission of Hong Kong and the National Development and Reform Commission. The Securities and Futures Commission of Hong Kong approved it on September 23, and the report to the National Development and Reform Commission is progressing as planned. In April 2025, BRIGHT SMART announced that Ant Group's wholly-owned subsidiary, Shanghai Yunjin, planned to acquire 50.55% of the shares held by the controlling shareholder of Yaocai Securities Holdings, New Sunlight Holdings, at a price of 3.28 Hong Kong dollars per share, with a total consideration of approximately 2.814 billion Hong Kong dollars. Then, on November 11, BRIGHT SMART announced again that the offeror was considering the possibility of extending the final deadline. In the past two years, Ant Group has been increasing its strategic investment in Hong Kong, making it a key point for its global strategy and that of its subsidiaries. On October 17, Ant Group announced a joint venture with Alibaba Group to purchase a commercial office building in Causeway Bay as the location of its Hong Kong headquarters. The offer to acquire is seen as a critical step for Ant Group to supplement its overseas securities brokerage license.