Guotai Junan completes Haitong Securities merger share swap

Guotai Junan Securities (601211.SS) has announced the completion of the H-share component of its share swap related to the merger with Haitong Securities, along with the associated fundraising and related-party transactions. The China Securities Regulatory Commission (CSRC) previously approved the transaction. As part of the deal, Guotai Junan issued 5,985,871,332 new A-shares to Haitong Securities' A-share holders and 2,113,932,668 new H-shares. An additional 626,174,076 A-shares were issued through private placement. This brings the total new share issuance to 8,725,978,076 shares. Guotai Junan's total issued shares increased from 8,903,730,620 to 17,629,708,696, consisting of 14,123,948,848 A-shares and 3,505,759,848 H-shares. Haitong Securities' A-shares were delisted on March 4, 2025.