Guotai Junan completes Haitong Securities merger, new shares listed

Guotai Junan Securities (SSE:601211) announced the completion of its share exchange merger with Haitong Securities, listing 5,985,871,332 new A-shares on March 17, 2025. The newly listed shares are unrestricted and result from the absorption of Haitong Securities. Additionally, 626,174,076 A-shares were issued via private placement to raise supplementary funds, which are subject to a 60-month lock-up period. Haitong Securities' A-shares were delisted on March 4, 2025, with former Haitong shareholders receiving 0.62 Guotai Junan shares for each Haitong share held. Following the transaction, Guotai Junan's controlling shareholder remains Guotai Junan. The merger has been approved by regulators and shareholders, with both firms completing asset transfer and share registration.