Guotai Junan secures funds for Haikong Securities merger

Guotai Junan Securities has completed key steps in its merger with Haikong Securities, including securing dedicated funding. Central to this, Guotai Junan has established a special account and signed a tripartite supervision agreement to manage the raised funds effectively. Specifically, the company issued 626,174,076 A-shares at a price of 15.97 RMB per share to Shanghai Guoding Asset Management Company, raising a total of RMB 10 billion. These funds are earmarked for strategic initiatives tied to the merger. The company confirms the merger has received all necessary approvals from regulatory bodies, and Haikong's A-shares will be delisted by March 4th. Guotai Junan expects this capital boost to enhance its competitive positioning and support further strategic goals.