Movement Alert|CICC Rises 4.37% in Regular Trading, Brokerage Sector Rally Combined with Ongoing Three-Way Merger Review

Market Focus06-22

On June 22, CICC (China International Capital Corporation) rose 4.37% in regular trading, trading at HKD 20.98 per share, with turnover of HKD 247 million.

On the sector front, brokerage stocks rallied broadly, with CITIC Securities up 6.51%, GF Securities up 5.6%, CSC Financial up 4.9%, and Guotai Junan up 2.65%, indicating significant capital inflows across the industry. On the news front, CICC's application to absorb and merge Dongxing Securities and Cinda Securities via A-share swap was formally accepted by the Shanghai Stock Exchange on June 12 and is currently under regulatory review. Upon completion, CICC's total assets will surpass the one-trillion-yuan threshold, with revenue increasing from RMB 28.5 billion to RMB 37.2 billion, elevating its industry ranking to third place.

The stock had previously declined over 3% across two consecutive sessions following the initial pricing of the merger acceptance news. The current rebound represents a technical recovery driven by the broader sector rally.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment