Haitong Securities merger with Guotai Junan approved by SSE

The Shanghai Stock Exchange (SSE) Merger and Acquisition Review Committee has approved Guotai Junan Securities' proposed merger with Haitong Securities. The transaction involves Guotai Junan acquiring Haitong Securities through a share swap, issuing A-shares to Haitong's A-share holders and H-shares to H-share holders. Guotai Junan will also raise supporting funds through an A-share issuance. The deal, announced January 9th, 2025, still requires approval from the China Securities Regulatory Commission and other relevant authorities. The merger's completion remains uncertain. Investors are advised to monitor further announcements on the SSE website and designated media outlets.