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CICC: Share-for-share merger with Dongxing Securities and Cinda Securities to enter implementation phase
36Kr reports that CICC announced its share-for-share absorption merger of Dongxing Securities and Cinda Securities has received approval from the CSRC. Trading of Dongxing Securities and Cinda Securities will cease on October 19. The record date for the share exchange is October 16, with an exchange ratio of 1:0.4376 for Dongxing Securities and 1:0.5210 for Cinda Securities. Upon completion of the share exchange, CICC will succeed to all assets, liabilities, and businesses of both companies, which will be deregistered.
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