Guotai Haitong Plans Connected Disposal of Entire Stake in Shanghai Securities
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Guotai Haitong Securities plans to dispose of its entire stake in Shanghai Securities, including a 24.99% share, through a mix of cash and shares. The final price will depend on an independent valuation. This transaction is classified as a connected transaction under Hong Kong Listing Rules, requiring compliance with reporting and potential shareholder approval. The deal's completion is contingent on obtaining a Whitewash Waiver and other conditions. Analysts currently rate Guotai Junan Securities (HK:2611) as a Buy with a price target of HK$14.61.
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