BUZZ-China Galaxy, CICC jump on report of merger

Reuters02-26

** HK shares of China Galaxy Securities 6881.HK soar 19.8% to HK$8.96, highest since October 8, 2024

** Stock set for biggest one-day pct rise since October 2, 2024; top pct gainer on Hang Seng Composite Index tracking financials stocks .HSCIF, which is up 2.8%

** Shanghai-listed stock 601881.SS jumps 10%

** State-owned China International Capital Corp (CICC) 3908.HK is set to merge with its peer China Galaxy Securities, five sources said

** The deal would create China's third-largest brokerage with $193 billion in assets

** CICC's HK shares jump 19.1% to HK$16.22, highest since November 8, 2024; Shanghai-listed stock 601995.SS up 10%

** YTD, HK shares of China Galaxy up ~25%, CICC gains ~26%

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

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