Guotai Junan International Shares Surge 36% on Take-Private Proposal

Guotai Junan International Shares Surge 36% on Take-Private Proposal

HONG KONG, Aug 10 (Reuters) – Hong Kong-listed shares of Guotai Junan ​International surged 36% at their ‌opening on Monday, following a proposal by its parent firm to take the company ​private.

Parent Guotai Haitong Securities offered ​a price on Friday that represented ⁠a premium of 44.2% to the ​company’s last close on July 23, ​before the offshore unit went on a trading halt.

The proposed deal valuing the unit at ​HK$28.59 billion ($3.64 billion), comes as ​the Shanghai-headquartered parent looks to streamline international operations ‌after ⁠last year’s giant merger.

Asian Markets Rallied as Disappointing US Employment data Sent Strong Signals for Rate Cuts; Oil Prices Inch Closer to $50 a Barrel

State-backed brokers Guotai Junan and Haitong Securities completed a share-swap merger in early 2025 in ​a landmark ​consolidation of ⁠China’s capital markets to became the country’s largest brokerage ​firm by net assets.

The deal ​saw ⁠Haitong delisted from stock exchanges in Shanghai and Hong Kong before the ⁠combined ​entity rebranded.

($1=7.8448 Hong Kong ​dollars)

(Except for the headline, this story has not been edited by VoM News staff and is published from a syndicated feed.)

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