Haitong Securities A-shares face delisting amid merger

Haitong Securities Co., Ltd. [SSE:600837] has announced that the Shanghai Stock Exchange (SSE) has accepted its application for the voluntary termination of the listing of its A-shares. This action comes as Haitong Securities is slated to merge with Guotai Junan Securities through a share swap. Guotai Junan will issue A-shares to Haitong's A-shareholders and H-shares to its H-shareholders to absorb Haitong Securities. The merger, previously approved by Haitong's shareholders and regulators, will result in Haitong Securities ceasing to exist as an independent entity. Trading of Haitong's A-shares will cease five trading days after the official delisting announcement. Shareholders will then have their shares converted into Guotai Junan stock, which will then be listed for trading. Investors are urged to monitor further announcements for updated information.