BUZZ-China Galaxy, CICC HK shares fall after saying they have no information on merger

Reuters02-27

** Hong Kong shares of China Galaxy Securities 6881.HK drop 8.4% to HK$8.02, the biggest one-day pct decline since October 9, 2024

** China International Capital Corp (CICC) 3908.HK is set to merge with its peer China Galaxy Securities via a share swap, Reuters reported on Wednesday citing five sources, in a deal that would create China's third-largest brokerage

** CICC and Galaxy said in separate filings late on Wednesday that neither of them had received any information from the government, regulators or controlling shareholder regarding the reported merger

** CICC's Hong Kong shares fall 8.3% to HK$14.88, the biggest one-day pct drop since October 9, 2024

** However, Shanghai-listed stock of China Galaxy 601881.SS and CICC 601995.SS rise 3.5% and 2% respectively

** YTD, Hong Kong shares of China Galaxy up 23.6%, CICC gains 26.5%

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

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