On January 17th, Haitong Securities announced that Guotai Junan plans to absorb and merge Haitong Securities by issuing A-shares to all A-share convertible shareholders of the company and H-shares to all H-share convertible shareholders of Haitong Securities, and raise matching funds by issuing A-shares. On January 17, 2025, the China Securities Regulatory Commission issued a reply approving the registration application of Guotai Junan to absorb and merge Haitong Securities by adding 5985871332 shares, approving the registration application of Guotai Junan to raise supporting funds of no more than 10 billion yuan by issuing shares, and approving the absorption and merger of Haitong Securities by Guotai Junan. After the merger is completed, Haitong Securities is dissolved in accordance with the law, and the original branch of Haitong Securities is changed to a branch of Guotai Junan. In addition, approval has been granted for Guotai Junan to become the major shareholder of Haifutong Fund Management Co., Ltd., Fuguo Fund Management Co., Ltd., and Haitong Futures Co., Ltd., as well as Shanghai International Group Co., Ltd. to become the actual controller of Haifutong Fund and Haitong Futures. The registration approval for Guotai Junan’s issuance of shares to absorb and merge with Haitong Securities and raise matching funds is valid for 12 months from the date of issuance.
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