Ant Group unit clears regulatory step for Bright Smart takeover
A view of Ant Group buildings in Chongqing, China, on March 23, 2025.
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shares Bright Smart Securities It rose as much as 82% on Tuesday after its Ant Group unit completed steps to acquire the Hong Kong-listed brokerage.
The stock later regained its gains, reaching its highest level since July 2025, with a 70% increase as of 22.45 GMT.
This rise came after Ant Group’s subsidiary Wealthiness and Prosperity Holding announced that it had completed the required reporting procedures with Chinese regulators for high-value overseas investment projects, paving the way for the conclusion of the deal.
The companies announced that their reporting procedures were completed on Sunday. The joint filing was released after trading hours on Monday..
The transaction is expected to be completed around March 30. Once completed, the deal will trigger an unconditional mandatory cash offer for all remaining shares of Bright Smart not owned by Ant Group.
