Ant Group’s Acquisition of Hong Kong Broker Moves Forward Amid Regulatory Approvals

Ant Group has made significant progress in its acquisition of Hong Kong brokerage Bright Smart Securities, which was recently granted approval by the Hong Kong Securities and Futures Commission for a 50.55% share ownership stake. However, final approval from China’s National Development and Reform Commission is still pending. Following this news, Bright Smart Securities stock prices surged by 34.52%. The acquisition aims to secure a virtual asset trading platform license.