Haitong Securities (SHA:600837, HKG:6837) and Guotai Junan Securities (SHA:601211, HKG:2611) secured the approval in principle from the Shanghai State-owned Assets Supervision and Administration Commission for the companies' proposed merger as well as the proposed placement, according to a Wednesday filing with the Hong Kong bourse.
The two companies also said the State Administration for Market Regulation of China decided not to conduct a further review on the anti-trust filings in relation to the proposed merger.
Haitong's Hong Kong shares went up over 1% in recent trade.
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