Haitong Securities responds to merger inquiry from Shanghai Exchange

Haitong Securities (SSE: 600837) has responded to the Shanghai Stock Exchange's inquiry regarding the proposed merger with Guotai Junan Securities. The merger involves Guotai Junan acquiring Haitong through a share swap, issuing both A-shares and H-shares to Haitong's existing shareholders. The deal also includes raising additional funds. Haitong confirmed receiving the inquiry on December 26, 2024, and has subsequently provided a detailed response addressing the exchange's questions. The response, along with revised transaction documents, has been published on the Shanghai Stock Exchange website. The transaction still requires regulatory approvals from the Shanghai Stock Exchange, the China Securities Regulatory Commission, and other relevant authorities. Haitong cautioned investors about the inherent uncertainties surrounding the deal's completion.