Date
11 December 2017

Guotai Junan to acquire 51% of Shanghai Securities, report says

Guotai Junan Securities Co. Ltd. is said to be acquiring 51 percent stake in Shanghai Securities Co. Ltd. for 6 billion yuan (US$978.16 million), China Business News reported Monday. Citing an unidentified source from within Guotai Junan, the report said the firm will pay an initial deposit of 1 billion yuan cash for the acquisition, while the remainder will be settled after Guotai Junan is listed on the Shanghai Stock Exchange.

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