Guotai Junan responds to exchange queries on Haitong merger

Guotai Junan Securities (SSE: 601211) has responded to the Shanghai Stock Exchange's inquiries regarding its proposed merger with Haitong Securities. The merger involves a share swap where Guotai Junan will issue both A-shares and H-shares to Haitong's existing shareholders. Concurrently, Guotai Junan plans to raise additional funds. The exchange's inquiry letter, dated December 26, 2024, requested clarification on various aspects of the complex transaction. Guotai Junan, along with relevant intermediaries, addressed the questions and revised its application materials accordingly. These documents, including the response letter, have been published on the Shanghai Stock Exchange website (www.sse.com.cn). The transaction remains subject to regulatory approvals from the exchange, the China Securities Regulatory Commission, and other relevant authorities.