Haitong Securities announces cash option for dissenting A-share holders

Haitong Securities (SSE: 600837) announced details regarding the cash option for dissenting A-share holders related to the merger with Guotai Junan Securities. A-share holders who voted against the merger and continuously held their shares since the record date are eligible. The cash option price is set at 9.28 CNY per share, compared to the closing price of 10.72 CNY on January 21, 2025. The record date is February 5, 2025, and the application period runs from 9:00 to 15:00 on February 6, 2025. Shareholders must submit required documentation during this period and sign a share transfer agreement at the Shanghai Stock Exchange on February 7, 2025. A maximum of 12,748,327 A-shares are eligible for the cash option. Taiping Life Insurance Co., Ltd. will provide the cash consideration. Haitong A-shares will be suspended from trading from February 6, 2025, until delisting.