Guotai Junan completes Haitong Securities merger

Guotai Junan Securities (601211.SS) has completed its merger with Haitong Securities via a share exchange, along with raising supporting funds. The new shares issued as part of the merger are now listed. Guotai Junan issued 5,985,871,332 new A-shares to Haitong Securities A-shareholders. As part of the deal, every 1 share of Haitong was exchanged for 0.62 shares of Guotai Junan. Guotai Junan also raised capital of 10 billion yuan through the issuance of 626,174,076 new A-shares, priced at 15.97 yuan per share, to a designated investor. With these actions, Guotai Junan's total share capital increases to 17,629,708,696 shares. The merger and capital raising are expected to strengthen Guotai Junan's position in the market and support its international expansion and digital transformation.