China Cinda Asset Management Co., Ltd. (China Cinda) disclosed that its board has approved acting as a put-option provider for dissenting shareholders of its subsidiary Cinda Securities during the planned merger by absorption with China International Capital Corporation (CICC) and Dongxing Securities.
Under the share-for-share merger agreement signed on 17 December 2025, CICC will exchange newly issued A shares for all outstanding shares of Cinda Securities and Dongxing Securities. PRC regulations require that dissenting A-shareholders of Cinda Securities be offered a cash exit.
Key terms of China Cinda’s undertaking • Funding cap: up to RMB500.00 million for acquiring Cinda Securities A shares surrendered under the put option. • Exercise price: RMB17.79 per share, based on Cinda Securities’ closing price on 19 November 2025; to be adjusted to RMB17.75 per share if the 2025 final dividend is paid before the exercise date. • Obligation: China Cinda will arrange its own funds and pay cash consideration directly to qualified shareholders that validly exercise the option.
Regulatory positioning The cash commitment, when viewed in isolation, falls below the 5% threshold of Chapter 14 of Hong Kong’s Listing Rules and therefore is not a notifiable transaction. When aggregated with the broader merger transactions, the deal qualifies as a very substantial acquisition; China Cinda will follow the disclosure and approval requirements already applicable to the overall merger.
Next steps The put-option undertaking requires shareholder approval at an upcoming general meeting. A circular with full details will be dispatched in due course.
Board composition The announcement is signed by Chairman Zhang Weidong. The board comprises three executive directors, two non-executive directors and five independent non-executive directors.
Date and location Beijing, 18 May 2026.
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