Orient Securities Plans to Acquire Shanghai Securities Amid Consolidation Push
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Orient Securities plans to acquire 100% of Shanghai Securities as part of a consolidation effort in China's brokerage industry. The acquisition will involve cash and share issuance, with details to be finalized. Trading of Orient Securities' Shanghai-listed shares will be halted for up to 10 days. This move aligns with Chinese authorities' goal to develop globally competitive securities firms, aiming to establish two to three leading brokerages by 2035. Recent mergers in the industry include Guotai Junan and Haitong Securities, as well as Guolian Securities and Minsheng Securities.
Source: MorningStar The copyright of this article belongs to the original author/organization.
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