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BRIGHT SMART Once Plunges 26% Amid Reports of Ant Group Acquisition Delay
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Ant Group's acquisition of BRIGHT SMART (01428.HK) has drawn the attention of the China Securities Regulatory Commission, the National Financial Regulatory Administration, and the People's Bank of China, which may lead to a delay in the deal, foreign media reported. BRIGHT SMART opened 14.96% lower this morning (15th) and once slumped by 26% to as low as HKD10.26. It last traded at HKD11.24, down 19.14%, with a volume of 59.3251 million shares, involving HKD672 million. Ant Group responded that the acquisition process is still proceeding as planned, but it didn't disclose further details. It is understood that some regulatory officials believe Ant Group's transaction is proceeding without broader scrutiny. Since the group hasn't obtained a financial holding company license, approval of the current transaction may lead to regulatory issues in the future. AAStocks Financial News |
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