Date
12 December 2017

Guotai Junan eyes Shanghai Securities for 4 bln yuan, paper says

Guotai Junan Securities Co. Ltd. plans to acquire 51 percent of Shanghai Securities Co. Ltd. for no more than 4 billion yuan (US$650.41 million), China Securities Journal reported Monday, citing unnamed sources. Guotai Junan will present the proposal to shareholders at the end of the month and expects to close the deal by the end of June. The acquisition will enable Guotai Junan to meet regulatory requirements for a planned listing in Shanghai, some observers were quoted as saying.

– Contact HKEJ at [email protected]

TL/AC/RA

 

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