Haitong Securities Co (HK:6837) has released an update.
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Guotai Junan Securities and Haitong Securities have announced a strategic merger to create a global leader in financial services, emphasizing advancement in China’s financial system and international presence. The merger consists of share exchanges and is accompanied by a concurrent fundraising effort to support the new entity’s growth and debt repayment. Following the merger, the new company will adopt a fresh corporate identity and governance structure, aiming to withdraw Haitong Securities’ listing from the Hong Kong Stock Exchange and SSE upon completion.
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