Guotai Junan completes share issuance for Haitong Securities merger

Guotai Junan Securities (SSE:601211) has announced the completion of its share issuance to a specific target, a transaction linked to the company's merger with Haitong Securities and the raising of supplementary capital. A total of 626,174,076 shares were issued at a price of 15.97 RMB per share, raising gross proceeds of 10 billion RMB. The sole subscriber was Shanghai State-owned Assets Management Co., Ltd, which is now subject to a 60-month lock-up period for the acquired shares. The net proceeds are earmarked for strengthening Guotai Junan's capital base and enhancing its competitiveness in the financial services sector. The share issuance was approved by the China Securities Regulatory Commission (CSRC) and is now fully executed.