Ant Group unit clears major regulatory hurdle for Bright Smart acquisition. The Alibaba-backed fintech subsidiary Wealthiness and Prosperity Holding completed required reporting procedures with Chinese regulators, removing a critical barrier to the deal's closure. Bright Smart Securities shares surged 70 percent following the announcement, reaching their highest level since July 2025. The acquisition, valued at approximately 2.81 billion Hong Kong dollars for a 50.55 percent stake, is now expected to close around March 30. Once finalized, the deal will trigger a mandatory cash offer for remaining shares. This marks Ant Group's strategic expansion into the brokerage sector and demonstrates continued momentum in major financial acquisitions despite previous regulatory concerns.
