Guotai Junan nears final swap in Haitong Securities merger

Guotai Junan Securities (601211.SS) announced the A-share swap implementation for its merger with Haitong Securities, approved by the China Securities Regulatory Commission. The A-share swap will occur with a record date of March 3, 2025, where Haitong Securities A-shares will be converted to Guotai Junan A-shares at a ratio of 0.62. Haitong Securities A-shares will be delisted on March 4, 2025. The merger includes a concurrent private placement not exceeding ¥10 billion. All contracts and rights transfer over to Guotai Junan Securities at completion.