FilingReader Intelligence

Guotai Junan and Haitong Securities to merge in mega deal

December 30, 2024 at 04:31 PM UTCBy FilingReader AI

Guotai Junan Securities (SSE:601211) will merge with Haitong Securities (SSE:600837) through a share exchange, creating a leading investment bank. Guotai Junan will issue A-shares and H-shares to Haitong's shareholders at a ratio of 1:0.62. Concurrently, Guotai Junan will raise up to RMB 100 billion in supporting funds from Shanghai State-owned Assets Operation Co., Ltd. Post-merger, the combined entity's total assets will reach approximately RMB 16.2 trillion, significantly increasing market share and competitiveness. The merger will combine both firms' strengths in wealth management, investment banking, institutional and trading services, and investment management. Both firms' boards have approved the deal, pending regulatory approvals. While the combined entity's earnings per share is projected to decline initially, plans are in place to mitigate this dilution through business synergies and operational efficiencies.

This report was generated by FilingReader's AI system from regulatory filings and company disclosures. To request a correction, contact editorial@filingreader.com

SSE:601211Shanghai Stock Exchange
Shanghai Blue Chip

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