China's securities regulator approves merger of Guotai Junan, Haitong Securities

Guotai Haitong Securities Co

17/01/2025 12:33

BEIJING, Jan 17 (Reuters) - China's securities regulator
on Friday approved the merger of Guotai Junan Securities
 601211.SS  and Haitong Securities  600837.SS , giving the final
nod to a deal that would create a $230 billion brokerage
powerhouse.
    The Shanghai-based brokerages in September announced a plan
to merge through a share swap.
    Under the merger plan, Guotai Junan would absorb Haitong by
issuing new shares to the latter's investors in the mainland
China and Hong Kong markets. 

 (Reporting by Yukun Zhang and Ryan Woo
Editing by Christina Fincher)
 ((yukun.zhang@thomsonreuters.com;))