A view of the Ant Group buildings in Chongqing, China, on March 23, 2025.
Cfoto | Future Publishing | Getty Images
Shares of Bright Smart Securities surged as much as 82% on Tuesday after an Ant Group unit completed the required steps to acquire the Hong Kong-listed brokerage.
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.
The transaction is expected to be completed around March 30. Once completed, the deal will trigger a possible unconditional mandatory cash offer for all remaining shares of Bright Smart not already owned by the Ant Group subsidiary.
