Guotai Junan International privatisation: Shanghai SASAC green light obtained; NDRC nod still awaited

Bulletin Express10-16

Guotai Haitong Financial Holdings Limited (the Offeror) and Guotai Junan International Holdings Limited (Guotai Junan International) jointly reported that, as of 16 October 2026, the Offeror has secured the necessary approval, review and filing from Shanghai SASAC and its authorised units for the planned privatisation of Guotai Junan International via a scheme of arrangement under Section 673 of Hong Kong’s Companies Ordinance.

The Shanghai SASAC clearance satisfies one of the two regulatory pre-conditions outlined in the 7 August 2026 Rule 3.5 Announcement. The remaining pre-condition—approval, review, filing or registration by the National Development and Reform Commission (NDRC) of the People’s Republic of China—has yet to be completed.

The privatisation cannot proceed until the NDRC requirement is met and all other scheme conditions are either satisfied or waived. The companies stated that further updates, including the timing for dispatch of the scheme document, will be released in accordance with Hong Kong’s Takeovers Code.

Shareholders, share-option holders and potential investors are advised to exercise caution when dealing in Guotai Junan International’s securities, as the proposal may or may not be implemented depending on the final regulatory outcome.

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