Guotai Junan to absorb Haitong Securities in stock swap deal

Guotai Junan Securities (SSE:601211) announced plans to absorb Haitong Securities through a stock swap and additional share issuance. Guotai Junan will issue A-shares to Haitong's A-shareholders and H-shares to Haitong's H-shareholders, followed by a capital raise. Upon completion, Guotai Junan will assume all assets, liabilities, and operations of Haitong Securities. The deal, approved by both companies' shareholders, awaits regulatory approval. Creditors of Guotai Junan are notified and have 30 days (or 45 days if not directly notified) to file claims or request guarantees. The company will address valid claims after obtaining regulatory clearances.