Guotai Junan's merger with Haitong Securities gets Hong Kong Exchange nod

Guotai Junan Securities (SSE:601211) has received approval from the Hong Kong Stock Exchange (HKEX) for its proposed merger with Haitong Securities. The merger will be executed through a share swap, where Guotai Junan will issue 2,113,932,668 H-shares to Haitong Securities' H-share holders and A-shares to A-share holders. Alongside the merger, Guotai Junan will raise supporting funds through an A-share issuance. The China Securities Regulatory Commission (CSRC) had already greenlit the deal on January 17, 2025. With all regulatory approvals in place, Guotai Junan's board will proceed with the transaction within the stipulated timeframe. The company emphasized its commitment to fulfilling all necessary disclosure requirements.