China Sets Terms for Merger to Create $226 Billion Brokerage [Yahoo! Finance]
CITIC SECURITIES UNSP/ADR (CIIHY)
NASDAQ:AMEX Investor Relations:
citic.com/investorrelations/investorrelations
Company Research
Source: Yahoo! Finance
Most Read from Bloomberg Under the share swap deal, Guotai Junan will issue A shares and H shares to all holders of its smaller rival Haitong at a ratio of 0.62 to 1. The exchange offer is worth 8.57 yuan in China, or a 2.3% discount on Haitong shares in Shanghai before they were suspended last month. In Hong Kong, the swap is worth HK$4.79 each, a premium of 32%, according to Bloomberg calculations. In a move to replenish working capital, repay debts and fund the costs for the proposed merger, Guotai Junan plans to raise up to 10 billion yuan ($1.4 billion) from its controlling shareholder Shanghai State-owned Asset Management Co. via a share placement. The brokerage will place up to 626.2 million A shares at 15.97 yuan each, according to its plan. The deal comes a year after President Xi Jinping urged regulators to cultivate a few top-ranked investment banks to compete with global firms in China. The combination of the brokerages will create a new entity with assets of 1.6 tr
Show less
Read more
Impact Snapshot
Event Time:
CIIHY
Last Price
Price Change
Price Change%
Volume Shares
Max Up
Max Down
%
Volume Ratio
Performance Comparison
Updated
|
Event Day
Stock performance from the time of news release until the following 4pm ET market close
|
Last price at news event
|
Since Event
Multi-day stock performance from the time of the news release
|
|---|---|---|
|
EVENT DAY
Stock performance from the time of news release until the following 4pm ET market close
|
LAST
PRICE AT NEWS EVENT |
SINCE EVENT
Multi-day stock performance from the time of the news release
|
| Last Price | ||
| VWAP | ||
|
High:
|
Max Up |
High:
|
|
Low:
|
Max Down |
Low:
|
|
%
|
Post news range |
%
|
|
|
Price change |
|
|
|
Price Change Percentage |
|
|
|
S&P 500 (SPX) |
|
|
%
|
Volume ratio |
%
|
| Volume | ||
| Ticks | ||
|
|
Avg transaction size |
|
Don't Miss Out On The Next BIG Stock Move
Event day
Event Day Chart will not be displayed beyond 90-day period of the event
Performance since event
Time And Velocity Analysis
Be the first to know
Opt in for alerts from News Quantifed
Sign Up Today
Opt-in for
CIIHY alerts
Learn More With NQ
Reading the Impact Report
Help Me Understand This Data
Help Me Understand This Data
How NQ Works
What is news-based trading?
And why is it so successful?
And why is it so successful?
Movers & Shakers
The biggest gainers and losers and WHY it moved
CIIHY alerts
High impacting CITIC SECURITIES UNSP/ADR news events
Weekly update
A roundup of the hottest topics