Ant Group Delays Hong Kong Brokerage Takeover as Beijing Approval Drags
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Ant Group Co. Ltd. has extended the deadline to complete its takeover of Hong Kong brokerage Bright Smart Securities & Commodities Group Ltd. by four months, paying an additional deposit as it awaits approval from Beijing.
The fintech giant pushed the transaction’s cutoff date to March 25, according to a filing by the Hong Kong-listed brokerage Tuesday.
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What Happened When
- Earlier in 2025：
- Ant Digital Technologies established its international headquarters in Hong Kong.
- April 2025：
- Ant Group's acquisition of a 50.55% stake in Bright Smart Securities & Commodities Group Ltd. was first announced.
- After spring 2025：
- Bright Smart's share price surged from around HK$3 to nearly HK$18 following the initial acquisition news.
- September 2025：
- Hong Kong’s Securities and Futures Commission approved the acquisition deal.
- October 2025：
- Ant Group joined the Hong Kong Monetary Authority’s generative AI sandbox.
- November 25, 2025：
- Bright Smart Securities filed to announce the extension of the transaction’s cutoff date to March 25, 2026.
- November 26, 2025：
- Bright Smart's share price closed at about HK$8 as the deal slowed.
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