Guolian Securities to buy Sinolink Securities

21.09.2020 - Korneychuk Evgeniya
Guolian Securities to buy Sinolink Securities

On Sunday, Guolian Securities Co. (1456.HK601456.SS) announced that it would buy Sinolink Securities Co. (600109.SS) through a stock swap.

The securities brokerage company said that it would also purchase a 7.82% share from Sinolink’s biggest shareholder Yongjin Group.

“The agreement of intent on share transfer was entered into between the Company and Guolian Securities Co. for the purpose of acquiring approximately 7.82% shares of Sinolink Securities Co Ltd. In addition, the Company and Sinolink Securities are planning to absorb and merge Sinolink Securities through share swap by issuing A shares to all the shareholders of Sinolink Securities by the company,” Guolian Securities Co. said in a letter.

According to Guolian Securities, the company is worth 39.42 billion Yuan. It is also backed by the government of the southern city Wuxi.

Sinolink’s Shanghai-listed shares fell by 10% before Guolian’s announcement.

Risk disclaimer "Market Solutions Ltd – Suite 305 Griffith Corporate Centre P.O. Box 1510 Beachmont, Kingstown, St Vincent and the Grenadines is a financial services institution outside the European Union Area, which is subject to the supervision of the IFMRRC Certificate 0395 AA V0128 Trading in Forex/ CFDs and Other Derivatives is highly speculative and carries a high level of risk. It is possible to lose all your capital. 70% of trading deals can be unprofitable. These products may not be suitable for everyone and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. This Website may contain information in particular regarding financial services and products that could be regarded b a E.U. supervisory authority as an offer of financial services targeted in Europe. ESMA intervention measures do not apply to customers of Market solutions Ltd and it is your responsibility to choose a company which is most suitable for your trading needs. By clicking continue you confirm that you have read, understood and agree to the risk disclosures, terms of service, cash policies, privacy policies and this notice and that you are visiting this website on your own initiative, without any encouragement whatsoever from umarkets.ai or Market Solutions limited." Cookies notification: We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we assume that you are happy with it. Read more. Continue
×

Help with deposit?