Guotai Junan shareholders approve merger with Haitong Securities

Shareholders of Guotai Junan Securities (SSE: 601211) voted overwhelmingly to approve the merger with Haitong Securities. The merger, which will be executed through a share swap, also includes raising additional capital. The meeting, held on December 13, 2024, saw strong support for the proposals, with over 99% of participating shareholders voting in favor of the key resolutions related to the merger, including the overall merger plan, share swap terms, and fundraising. The merger will create one of China's largest securities firms. The resolutions passed included the approval of the merger agreement, the share exchange ratio, and the issuance of new shares for fundraising. The next steps involve regulatory approvals and the implementation of the merger plan.