CICC Merger with Dongxing and Cinda Securities Clears SSE Review
China International Capital Corp's major asset restructuring to absorb Dongxing Securities and Cinda Securities has been approved by the Shanghai Stock Exchange's M&A review committee. The company disclosed the progress on August 27. Following administrative procedures, the three firms will submit registration applications to the China Securities Regulatory Commission. The merger involves a share-swap absorption structure, with final terms subject to regulatory review.
China International Capital Corp's (CICC) major asset restructuring to absorb Dongxing Securities and Cinda Securities has been approved by the Shanghai Stock Exchange's mergers and acquisitions review committee. CICC announced the development in a filing on August 27.
Under the administrative approval process, the three companies will subsequently submit registration applications to the China Securities Regulatory Commission. The merger is structured as a share-swap absorption, with specific transaction arrangements subject to the outcome of regulatory review.
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