Haitong Securities, Guotai Junan rise as regulator approves merger

Guotai Haitong Securities Co

20/01/2025 02:46

** Hong Kong shares of Haitong Securities  6837.HK  rise
2.9% to HK$6.44, highest since Jan. 4  
    ** Haitong's Shanghai-listed stock  600837.SS  climbs 2.3%
to 10.80 yuan, highest since Jan. 2, and set for a second
straight session of gains
    ** China's securities regulator on Friday approved merger of
Haitong Securities and Guotai Junan Securities  601211.SS ,
giving the final nod to a deal that would create a $230 bln
brokerage powerhouse
    ** 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
    ** Guotai Junan's Hong Kong stock  2611.HK  rises as much as
2.9% to HK$10.76, highest since Jan. 3, while Shangahi shares
 601211.SS  climb 2.7% to 18.08 yuan, highest since Jan. 2
    ** In Hong Kong, the Hang Seng Index  .HSI  rises 2.4% and
the Hang Seng Mainland Banks Index  .HSMBI  adds 0.7%
    ** In China, the blue-chip CSI 300 Index  .CSI300  gains
1.1% and the Shanghai Composite Index  .SSEC  adds 0.7%
    

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))