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GTJA, HAITONG SEC Open 1x+ Higher on Resumption of Trading as They Finalize Merger Proposal
Recommend 5 Positive 15 Negative 12 |
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GTJA (02611.HK) and HAITONG SEC (06837.HK) resumed trading this morning (10th). GTJA opened 1.06x higher at $16.3, while HAITONG SEC opened 1.34x higher at $8.5. GTJA and HAITONG SEC jointly announced the terms of the proposed merger, with the exchange ratio determined to be 0.62:1, meaning that 1 HAITONG SEC A/ H share shall be exchanged for 0.62 GTJA A/ H shares. In addition, pursuant to PRC regulatory requirements, cash put options will be provided to the dissenting shareholders, who will be entitled to sell their shares subject to the satisfaction of all the conditions. The cash price of GTJA's A-/ H-shares is RMB14.86/ $8.54 each, while that of HAITONG SEC' A-/ H-shares is RMB9.28/ $4.16, respectively. AAStocks Financial News |
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