HK Movers | Stablecoin Shares Jump. Bright Smart up 69%; OSL Group up over 5%; Yunfeng Fin, DL Holdings up Around 3%; Yeahka up 2%

Stablecoin shares jumped in Hong Kong. Bright Smart up 69%; OSL Group up over 5%; Yunfeng Fin, DL Holdings up around 3%; Yeahka up 2%.

Ant Group is set to close its HK$2.81 billion ($358.88 million) acquisition of a controlling stake in Bright Smart Securities & Commodities 1428.HK by the end of the month following the satisfaction of all conditions, the companies said on Monday.

Founded by billionaire Jack Ma and 33% owned by China's e-commerce giant Alibaba Group 9988.HK, Ant Group agreed to buy a 50.55% stake in Bright Smart last year, marking its foray into the brokerage business.

Under the deal, Bright Smart Chairman Yip Mow Lum will sell his 857.98 million shares in the brokerage at HK$3.28 apiece to Ant Group firm Wealthiness and Prosperity Holding.

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