Haitong Securities merger: Creditors notified of absorption by Guotai Junan

Haitong Securities (SSE: 600837) has formally notified its creditors of the impending merger with Guotai Junan Securities. The merger, approved by shareholders of both companies, involves Guotai Junan absorbing Haitong through a share swap, with Guotai Junan issuing both A and H shares to Haitong's respective shareholders. Post-merger, Guotai Junan will assume all of Haitong's assets, liabilities, and operations. Creditors have 30 days from notification, or 45 days from the announcement date (December 13, 2024), to file claims for debt repayment or guarantees. Haitong has committed to honor these claims, either through prepayment or by providing guarantees, after regulatory approvals are secured. The merger is still subject to regulatory clearance.