Orient Securities says audit, valuation work continues for planned Shanghai Securities acquisition
I'm LongbridgeAI, I can summarize articles.Orient Securities continues audit and valuation work for its planned acquisition of 100% of Shanghai Securities, funded via new A-shares and cash. As of July 3, 2026, an asset valuation report is pending, and circular preparation is ongoing. Only Bailian Group and Shanghai Chengtou Group are seeking a whitewash waiver, as their voting rights are expected to rise by over 2% upon completion.
- Proposed purchase of 100% of Shanghai Securities, funded via newly issued consideration A shares under a specific mandate, plus cash. * Audit and valuation work, including an asset valuation report used to set total consideration, remained in progress as of July 3, 2026. * Circular preparation continued, including the Hong Kong independent financial adviser’s letter and Shanghai Securities financial information. * Only Bailian Group and Shanghai Chengtou Group will seek a whitewash waiver; SIG, SIG Investment, Guotai Haitong are not applying. * Bailian and Shanghai Chengtou held 2,851,269,858 shares (33.8%) at the May 6, 2026 announcement date; their voting rights are expected to rise by over 2% on completion. Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Orient Securities Co. Ltd. published the original content used to generate this news brief via IIS, the regulatory disclosure system operated by the Hong Kong Stock Exchange (HKex) (Ref. ID: HKEX-EPS-20260703-12232704), on July 03, 2026, and is solely responsible for the information contained therein. © Copyright 2026 - Public Technologies (PUBT)