Guotai Junan revises merger draft for Haitong Securities absorption

Guotai Junan Securities (SSE: 601211) announced on January 3, 2025, revisions to its draft report concerning the planned absorption merger of Haitong Securities. The updated draft, labeled "Draft for the Meeting," was submitted to the Shanghai Stock Exchange (SSE) on January 2, 2025, addressing feedback received in a letter from the exchange dated the same day. Key changes include updating the cover page to reflect its "Draft for the Meeting" status and revising the document's execution date. The merger involves a share swap where Guotai Junan will issue A-shares to Haitong Securities' A-share holders and H-shares to H-share holders. Concurrently, Guotai Junan plans to raise additional capital through an A-share offering. The revised draft is available on the SSE website.