Shares in Haitong International Securities double on privatization plan

Haitong International Securities

09/10/2023 07:16

SHANGHAI, Oct 9 (Reuters) - Shares in Hong Kong-listed
Haitong international Securities Group  0665.HK  nearly doubled
on Monday on a privatisation plan by Shanghai-based Haitong
Securities  600837.SS .
    Haitong Securities is offering up to HK$3.5 billion ($443
million) for all the shares it does not own in its Hong
Kong-listed unit, Haitong International Securities, to take it
private.
    Haitong Securities currently owns 73.4% of the investment
banking arm. The broker said it will offer HK$1.52 per share for
2.28 billion outstanding shares, a 114% premium over Haitong
International Securities' last closing price of HK$0.71.
    Haitong international Securities surged 97% to HK$1.4 in
Monday afternoon trade.
    

 (Reporting by Shanghai Newsroom; Editing by Kim Coghill)
 ((Jason.Xue@thomsonreuters.com;))