Media365
An Ant Group subsidiary has fulfilled all the necessary requirements for acquiring Bright Smart Securities & Commodities Group, Hong Kong’s largest retail stock brokerage, after completing reporting procedures with China’s regulatory authorities, the two companies announced in a joint off-trading-hours filing on Monday.
Wealthiness and Prosperity Holding, which is ultimately controlled by Ant Group, had completed the reporting procedures with the Chinese authorities required for high-value non-sensitive investment projects, it said.
The filing said the conditions for completion of the deal had now been satisfied and it was expected to close on March 30.
Bright Smart shares were suspended from trading on Monday, and it requested the resumption of trading on Tuesday.
