Major Step Forward in Brokerage Triple Merger

Deep News
09/22

On the evening of September 22, CICC (601995.SH) released an announcement regarding the resumption of trading for its A-shares. The results of the buyout offer application for dissenting shareholders in the share swap merger and absorption of Dongxing Securities and Cinda Securities have been finalized, and the company's A-shares will resume trading from the market open on September 23, 2026.

CICC's A-shares had been suspended from trading since September 15 due to the buyout offer application process for dissenting shareholders involved in the share swap merger with Dongxing Securities and Cinda Securities. According to the announcement, during the application period, a total of 1,950 securities accounts submitted applications, covering 10.9303 million shares. After verification and removal of invalid applications, the number of eligible dissenting shareholder accounts for the buyout offer stood at 1,084, with valid objection shares totaling 7.3219 million.

This merger involves CICC issuing new A-shares to all A-share exchange shareholders of Dongxing Securities and Cinda Securities, respectively, to complete the share swap absorption merger of both companies. CICC published the implementation announcement for the dissenting shareholder buyout offer on September 8, followed by three additional reminder announcements on September 15, September 16, and September 17.

With approval from the Shanghai Stock Exchange, the company's A-shares were suspended for the application process starting September 15, with the application period concluding on September 17. In a related announcement on the clearing and settlement of shares for the buyout offer, the company stated that as of the announcement date, Shenwan Hongyuan Securities, the buyout offer provider, has fully remitted all required exercise funds to the Shanghai branch of China Securities Depository and Clearing Corporation. The relevant share clearing and transfer procedures are expected to be completed in the coming days in accordance with regulations.

According to the resumption announcement, following the company's application to the Shanghai Stock Exchange, its A-shares will resume trading from the market open on September 23, 2026. Upon completion of this share swap merger, Dongxing Securities and Cinda Securities will become wholly-owned subsidiaries of CICC.

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