CICC Suspends Trading Pending Regulatory Confirmation on Proposed Mergers

Reuters12-10
CICC Suspends Trading Pending Regulatory Confirmation on Proposed Mergers

China International Capital Corporation Limited (CICC) provided an update on its proposed mergers with Dongxing Securities and Cinda Securities. The company confirmed that discussions are ongoing, but the mergers are still subject to approvals by the respective boards and shareholders, as well as regulatory authorities. Trading in CICC's H shares and certain notes remains suspended while the company confirms compliance requirements with regulators. Trading in its A shares on the Shanghai Stock Exchange has also been halted and is expected to last no more than 25 trading days. There is no assurance at this stage that the mergers will proceed.

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