Haitong Securities to delist after merger with Guotai Junan

Haitong Securities (SSE: 600837) announced it will delist from the Shanghai Stock Exchange after a merger with Guotai Junan Securities. Trading of Haitong Securities shares will be suspended from February 6, 2025, following the record date for dissenting shareholders' cash option. The final trading day will be February 5, 2025. Guotai Junan will acquire Haitong Securities through a share swap, issuing its own A-shares and H-shares to Haitong Securities' A-share and H-share holders, respectively. The share swap ratio will be detailed in the previously released merger report. Fractional shares resulting from the exchange will be handled through a distribution process outlined in the announcement. Haitong Securities will apply for delisting after the cash option period concludes.