Guotai Junan completes Haitong Securities merger, lists new shares

Guotai Junan Securities (601211.SH) announced the completion of its merger with Haitong Securities through a share exchange. New A-shares issued for the merger are now listed on the Shanghai Stock Exchange. The exchange ratio was set at 0.62 Guotai Junan shares for each Haitong share. Guotai Junan issued 5,985,871,332 new A-shares for the merger. Concurrently, Guotai Junan issued 626,174,076 A-shares to a state-owned capital entity, raising approximately 10 billion yuan in supporting funds at 15.97 yuan per share. The merger increases Guotai Junan's total share capital to 17,629,708,696 shares, with A-shares comprising 14,123,948,848 shares, meeting listing requirements. Haitong Securities' A and H shares have been delisted.