Chinese brokerages Guotai Junan Securities and Haitong Securities plan to merge, creating the largest securities firm in China.

Chinese brokerages Guotai Junan Securities and Haitong Securities plan to merge, creating the largest securities firm in China with $226 billion in assets. The share swap will have Haitong shareholders receiving 0.62 shares of Guotai Junan for each of their shares. The merger, pending regulatory approval, aims to consolidate resources and strengthen market position, aligning with China's goal to develop leading global brokerages.

October 09, 2024
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