Guotai Junan shareholders approve merger with Haitong Securities

Shareholders of Guotai Junan Securities (SSE:601211) have voted to approve the merger with Haitong Securities through a share swap and additional fundraising. The vote took place at the third extraordinary general meeting held on December 13, 2024. Attendees representing 60.4589% of the voting shares were present at the meeting, with voting conducted both in-person and online. The merger plan involves Guotai Junan absorbing Haitong Securities, with associated transactions including the issuance of new A-shares and H-shares. A separate fundraising effort will also be undertaken. Legal counsel from Beijing Haiwen Law Firm deemed the meeting procedures and voting results valid and compliant with relevant regulations. Further details regarding the share swap ratios, fundraising amounts, and timelines are expected to be released in subsequent announcements.