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Guotai Junan International receives take-private offer at over $3.6 billion valuation

Guotai Junan International receives take-private offer at over $3.6 billion valuation
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Guotai Junan International receives take-private offer at over $3.6 billion valuation Aug 7 : Hong Kong-listed brokerage Guotai Junan International said on Friday it received a conditional take-private proposal from Guotai Haitong Financial Holdings, valuing it at HK$28.59 billion ($3.64 billion). Under the proposal, shareholders will receive HK$3 in cash for every cancelled share, and the company will be delisted from the Hong Kong stock exchange.

Guotai Junan International receives take-private offer at over $3.6 billion valuation Aug 7 : Hong Kong-listed brokerage Guotai Junan International said on Friday it received a conditional take-private proposal from Guotai Haitong Financial Holdings, valuing it at HK$28.59 billion ($3.64 billion). Under the proposal, shareholders will receive HK$3 in cash for every cancelled share, and the company will be delisted from the Hong Kong stock exchange. The offer price represents a premium of 44.2 per cent to the company's last close on July 23, before it went on a trading halt. An application has been made to the stock exchange for the resumption of trading on August 10, the company said. Guotai Junan International will become a unit of Guotai Haitong Financial Holdings after the proposed transaction. ($1 = 7.8446 Hong Kong dollars)
Guotai Junan International (ORG) Hong Kong (LOCATION) Guotai Haitong Financial Holdings (ORG) HK$3 (ORG)
Originally published by Channel News Asia Read original →