Guotai Junan sets terms for dissenting shareholder buyout in Haitong merger

Guotai Junan Securities (SSE: 601211) announced the terms for dissenting shareholders to exercise their buyout rights related to the planned merger with Haitong Securities. Shareholders who voted against the merger at the December 13, 2024 meeting and continuously held their shares since the record date are eligible. The buyout price is set at 14.86 CNY per share, payable in cash. This represents a 19.65% premium to the closing price of 17.78 CNY on January 21, 2025. The application period runs from February 6, 9:00 to 15:00, during which trading of Guotai Junan A-shares will be halted. A share transfer agreement must be signed at the Shanghai Stock Exchange on February 7. Shanghai International Group Co., Ltd. will be the purchasing party for the dissenting shares.