Guotai Junan and Haitong Securities merger review Q&A
Guotai Junan Securities and Haitong Securities have responded to the Shanghai Stock Exchange's inquiry letter regarding their proposed merger. The companies detailed the rationale behind the merger, emphasizing synergy realization and enhanced market leadership. The exchange ratio for the merger is set at 1:0.62, meaning one share of Haitong Securities will be exchanged for 0.62 shares of Guotai Junan Securities. This ratio applies to both A-shares and H-shares. The merger will also involve raising up to 100 billion RMB in supporting funds, primarily allocated to international expansion, trading and investment operations, digital transformation, and supplementing working capital. Shanghai State-owned Assets Co., Ltd. has committed to subscribing to all shares issued for the supporting funds. Post-merger, Guotai Junan’s total assets are expected to reach 16.76 trillion RMB and net assets attributable to the parent company are projected at 3.29 trillion RMB.
This report was generated by FilingReader's AI system from regulatory filings and company disclosures. To request a correction, contact editorial@filingreader.com
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