Haitong Securities Co., Ltd. (SHSE:600837) made an offer to acquire 26.6% stake in Haitong International Securities Group Limited (SEHK:665) for HKD3.5 billion on September 26, 2023. The Offeror proposes to finance the cash consideration payable under the Proposal and the Share Option Offer in full through the External Financing. Somerley Capital, the financial adviser to the Offeror, is satisfied that sufficient financial resources are available to the Offeror to satisfy the maximum amount of cash consideration payable under the Proposal and the Share Option Offer. Approvals from Shanghai SASAC, CSRC, NDRC and the Shanghai Branch of the PBOC which are required in connection with the Proposal by Applicable Laws in Mainland China have been obtained or completed. The transaction was sanctioned by the court on January 5, 2024. Somerley Capital Limited acted as financial advisor for Haitong Securities. Altus Capital Limited acted as financial advisor while Tricor Investor Services Limited acted as registrar for Haitong International Securities Group.

Haitong Securities Co., Ltd. (SHSE:600837) completed the acquisition of 26.6% stake in Haitong International Securities Group Limited (SEHK:665) on January 9, 2024. All conditions were fulfilled.