Ant Group to Finalize $359 Million Bright Smart Deal

Ant Group is set to finalize its HK$2.81 billion ($358.88 million) acquisition of a controlling stake in Bright Smart Securities & Commodities by the end of March. The transaction follows the satisfaction of all necessary conditions, signaling a major step for the fintech firm.

Controlled by Alibaba Group Holding Limited and founded by billionaire Jack Ma, Ant Group reached an agreement last year to purchase a 50.55% stake in the brokerage. This acquisition marks the company's formal entry into the securities business in China.

Under the deal, Bright Smart chairman Yip Mow Lum will sell 857.98 million shares to Wealthiness and Prosperity Holding, an Ant Group entity, at HK$3.28 per share. The companies confirmed that all reporting procedures have been finalized and formal approval has been granted by the Securities and Futures Commission of Hong Kong.

"Ant has completed the required reporting procedures and received approval from the Securities and Futures Commission of Hong Kong, clearing the way for the deal."

The acquisition is expected to conclude on March 30. Despite earlier reports of potential delays due to regulatory scrutiny, Ant Group maintained that the process was proceeding as planned.

Bright Smart has applied to resume trading on the local stock exchange this Tuesday after a temporary halt. Since the deal was first announced in April 2025, shares of the brokerage have jumped more than three-fold, closing at HK$9.27 last Friday.