Draft Plan for Orient Securities' Merger with Shanghai Securities Unveiled, Deal Priced at 25.12 Billion Yuan

Corporate Action
โดย 澎湃新闻·Read original
Summary · why it matters

Orient Securities has released a restructuring draft, proposing to acquire 100% equity in Shanghai Securities through the issuance of A-shares and cash payment, with the transaction price set at 25.12 billion yuan. Of this, approximately 23.55 billion yuan will be paid in shares and 1.57 billion yuan in cash, with the share issuance price at 10.29 yuan per share. The appraised value of all shareholders' equity in Shanghai Securities is 25.11984 billion yuan, representing a 24.85% premium over book value. Guotai Haitong, as a shareholder holding 24.99% of Shanghai Securities, has signed a formal transaction agreement with Orient Securities, with its total consideration amounting to approximately 6.277 billion yuan. This restructuring still requires approval from the Shanghai State-owned Assets Supervision and Administration Commission, the Shanghai Stock Exchange, and the China Securities Regulatory Commission. Upon completion of the transaction, Orient Securities' total assets are expected to rank among the top ten in the industry.

Impact on stocks 4

Others▲ · 4 stocks
Orient Sec Co Ltd
600958
▲ PositiveCapitalrelevance

Orient Securities is the acquirer in a merger that will boost its asset ranking to top ten in the industry.

Guotai Junan Securities Co Ltd
601211
▲ PositiveCapitalrelevance

Guotai Haitong, as a 24.99% shareholder of Shanghai Securities, will receive ~6.277 billion yuan in consideration from the deal.

Off-coverage companies 1

上海证券Private▲ Positive
Capitalrelevance

Shanghai Securities is the target being acquired at a 24.85% premium over book value.

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