Haitong Securities merger approved by Shanghai Exchange
The Shanghai Stock Exchange (SSE) has approved the merger of Haitong Securities (SSE: 600837) by Guotai Junan Securities. The merger will proceed via a share swap, with Guotai Junan issuing A-shares to Haitong's A-share holders and H-shares to H-share holders. Concurrently, Guotai Junan will raise additional supporting funds through an A-share issuance. The SSE's Merger and Reorganization Review Committee confirmed the transaction meets regulatory requirements and disclosure standards on January 9, 2025. Haitong has subsequently updated its prospectus, reflecting the approval and addressing comments from the review process. Key revisions include details on debt transfer, risk factors, and both parties' financial situations.
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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