NEWS

Ant Group unit clears regulatory step for Bright Smart takeover, sending shares up 70%

Shares of Bright Smart Securities surged 58% after an Ant Group unit completed the required steps to acquire Hong Kong listed brokerage Bright Smart Securities.

By CNBC

• March 17, 2026 at 3:01 AM

Ant Group unit clears regulatory step for Bright Smart takeover, sending shares up 70% Photo: CNBC

The stock later pared gains to trade 70% higher as of 10.45p.m.

ET, the highest since July 2025.

The rally came after Ant Group subsidiary Wealthiness and Prosperity Holding said it had completed the required reporting procedures with Chinese regulators for high-value overseas investment projects, clearing the way for the deal to close.

The reporting procedures were completed on Sunday, the companies said in a joint filing published after trading hours on Monday .

Back last August, Ant Group said procedures related to its acquisition of Bright Smart Securities were "moving forward as planned" in response to reports that the deal could face heightened regulatory scrutiny and potential delays .

Bright Smart Securities has a market cap of around $15.74 billion Hong Kong dollars, according to LSEG data.