Guotai Junan's merger with Haitong secures key approvals

Guotai Junan Securities' planned absorption merger with Haitong Securities has received crucial approvals, moving the landmark deal closer to completion. Both companies' shareholders voted in favor of the merger on December 13, 2024. China's State Administration for Market Regulation granted antitrust approval, waiving further review, on November 18, 2024, and the Shanghai State-owned Assets Supervision and Administration Commission greenlighted the deal on November 19, 2024. Outstanding approvals include listing and trading permission for new Guotai Junan H-shares on the Hong Kong Stock Exchange, review and registration from the China Securities Regulatory Commission, and relevant overseas regulatory clearances. The merger remains subject to these pending approvals.