Chinese bank CICC to buy two rivals in $16 billion share-swap deal

Reuters12-17 20:08

Chinese bank CICC to buy two rivals in $16 billion share-swap deal

SHANGHAI/BEIJING, Dec 17 (Reuters) - China International Capital Corp 601995.SS unveiled plans on Wednesday to buy two smaller rivals in a share-swap deal worth about $16 billion, as Beijing strives to build globally competitive investment banks via industry consolidation.

State-owned CICC said it would take over Dongxing Securities 601198.SS and Cinda Securities 601059.SS to broaden its business network, expand its client base and strengthen capital as it seeks to become a top-tier investment bank.

The acquisitions will create China's fourth-largest investment bank, with total assets of more than 1 trillion yuan ($142 billion), according to Soochow Securities.

In an exchange filing, CICC said it planned to issue 3 billion China-listed shares at 36.91 yuan ($5.24) each in exchange for all outstanding shares of Dongxing and Cinda.

CICC shares last traded at 34.89 yuan on November 19 before trading was suspended pending details of the merger.

The transaction values Dongxing at 16.14 yuan per share, 23% above its last traded price of 13.13 yuan, while Cinda is valued at 19.15 yuan, an 8% premium.

Shares in all three companies - controlled by sovereign fund Central Huijin Investment - will resume trading on Thursday.

"The restructuring would help the company develop into a globally competitive, first-rate investment bank," CICC said, adding it would also "support China's capital market reform and high-quality growth of the securities industry".

($1 = 7.0440 Chinese yuan renminbi)

(Shanghai and Beijing newsroomEditing by Mark Potter)

((samuel.shen@tr.com))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2592921809?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2025-12-17 20:08","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2592921809","market":"us","top_or_hot":-1,"title":"Chinese bank CICC to buy two rivals in $16 billion share-swap deal","media":"Reuters","content":"<html xmlns=\"http://www.w3.org/1999/xhtml\"><head><title>Chinese bank CICC to buy two rivals in $16 billion share-swap deal</title></head><body><p><span>SHANGHAI/BEIJING, Dec 17 (Reuters)</span><span> - </span>China International Capital Corp <span>601995.SS</span> unveiled plans on Wednesday to buy two smaller rivals in a share-swap deal worth about $16 billion, as Beijing strives to build globally competitive investment banks via industry consolidation.</p><p>State-owned CICC said it would take over <a href=\"https://laohu8.com/S/601198\">Dongxing Securities</a> <span>601198.SS</span> and <a href=\"https://laohu8.com/S/601059\">Cinda Securities</a> <span>601059.SS</span> to broaden its business network, expand its client base and strengthen capital as it seeks to become a top-tier investment bank.</p><p>The acquisitions will create China's fourth-largest investment bank, with total assets of more than 1 trillion yuan ($142 billion), according to <a href=\"https://laohu8.com/S/601555\">Soochow Securities</a>.</p><p>In an exchange filing, CICC said it planned to issue 3 billion China-listed shares at 36.91 yuan ($5.24) each in exchange for all outstanding shares of Dongxing and Cinda.</p><p>CICC shares last traded at 34.89 yuan on November 19 before trading was suspended pending details of the merger.</p><p>The transaction values Dongxing at 16.14 yuan per share, 23% above its last traded price of 13.13 yuan, while Cinda is valued at 19.15 yuan, an 8% premium.</p><p>Shares in all three companies - controlled by sovereign fund Central Huijin Investment - will resume trading on Thursday. </p><p>\"The restructuring would help the company develop into a globally competitive, first-rate investment bank,\" CICC said, adding it would also \"support China's capital market reform and high-quality growth of the securities industry\". </p><p>($1 = 7.0440 Chinese yuan renminbi)</p><p> (Shanghai and Beijing newsroomEditing by Mark Potter)</p><p> ((samuel.shen@tr.com))</p></body></html>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Chinese bank CICC to buy two rivals in $16 billion share-swap deal</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nChinese bank CICC to buy two rivals in $16 billion share-swap deal\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1032215980\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://community-static.tradeup.com/news/4567337cbdf294b657b1fa87c5488b48);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2025-12-17 20:08</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html xmlns=\"http://www.w3.org/1999/xhtml\"><head><title>Chinese bank CICC to buy two rivals in $16 billion share-swap deal</title></head><body><p><span>SHANGHAI/BEIJING, Dec 17 (Reuters)</span><span> - </span>China International Capital Corp <span>601995.SS</span> unveiled plans on Wednesday to buy two smaller rivals in a share-swap deal worth about $16 billion, as Beijing strives to build globally competitive investment banks via industry consolidation.</p><p>State-owned CICC said it would take over <a href=\"https://laohu8.com/S/601198\">Dongxing Securities</a> <span>601198.SS</span> and <a href=\"https://laohu8.com/S/601059\">Cinda Securities</a> <span>601059.SS</span> to broaden its business network, expand its client base and strengthen capital as it seeks to become a top-tier investment bank.</p><p>The acquisitions will create China's fourth-largest investment bank, with total assets of more than 1 trillion yuan ($142 billion), according to <a href=\"https://laohu8.com/S/601555\">Soochow Securities</a>.</p><p>In an exchange filing, CICC said it planned to issue 3 billion China-listed shares at 36.91 yuan ($5.24) each in exchange for all outstanding shares of Dongxing and Cinda.</p><p>CICC shares last traded at 34.89 yuan on November 19 before trading was suspended pending details of the merger.</p><p>The transaction values Dongxing at 16.14 yuan per share, 23% above its last traded price of 13.13 yuan, while Cinda is valued at 19.15 yuan, an 8% premium.</p><p>Shares in all three companies - controlled by sovereign fund Central Huijin Investment - will resume trading on Thursday. </p><p>\"The restructuring would help the company develop into a globally competitive, first-rate investment bank,\" CICC said, adding it would also \"support China's capital market reform and high-quality growth of the securities industry\". </p><p>($1 = 7.0440 Chinese yuan renminbi)</p><p> (Shanghai and Beijing newsroomEditing by Mark Potter)</p><p> ((samuel.shen@tr.com))</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU2133065610.SGD","symbol_name":"JPMorgan Investment Funds - Global Dividend A (mth) SGD","start_time":0,"source_url":"https://api.refinitiv.com/data/news/v1/stories/urn:newsml:reuters.com:20251217:nL6N3XN0QN:1","article_id":"2592921809","we_media_id":"1032215980","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2592921809","pubTimestamp":1765973294,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Reuters","introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"id":"1032215980","head_image":"https://community-static.tradeup.com/news/4567337cbdf294b657b1fa87c5488b48"},"summary":"Chinese bank CICC to buy two rivals in $16 billion share-swap dealSHANGHAI/BEIJING, Dec 17 (Reuters) - China International Capital Corp 601995.SS unveiled plans on Wednesday to buy two smaller rivals ","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"600030":"中信证券","600958":"东方证券","601059":"信达证券","601136":"首创证券","601198":"东兴证券","601211":"国泰海通","601688":"华泰证券","601881":"中国银河","601939":"建设银行","601995":"中金公司","LU2133065610.SGD":"JPMorgan Investment Funds - Global Dividend A (mth) SGD","BK0196":"行业龙头","LU2347655156.SGD":"JPMorgan Investment Funds - Global Income A (icdiv) SGD-H","000166":"申万宏源","BK4127":"投资银行业与经纪业","LU1366192091.USD":"ALLIANZ US EQUITY PLUS \"AM\" (USD) INC","01359":"中国信达","LU1244550494.USD":"FRANKLIN GLOBAL MULTI-ASSET INCOME \"A\" (USDHEDGED) ACC","LU1979443071.USD":"AB CHINA A SHARES EQUITY PORTFOLIO \"AD\" (USDHDG) INC","LU1064131003.USD":"FULLERTON LUX FUNDS - CHINA A EQUITIES \"A\" (USD) ACC","LU0314104364.USD":"MANULIFE GF AMERICAN GROWTH \"AA\" (USD) INC","BK4516":"特朗普概念","LU0823413660.USD":"BNP PARIBAS EMERGING EQUITY \"C\" (USD) INC","LU0516423174.USD":"FULLERTON LUX FUNDS - ASIA FOCUS EQUITIES \"I\" (USD) ACC","LU0648001328.SGD":"Natixis Harris Associates US Equity RA SGD","IE00BSNM7G36.USD":"NEUBERGER BERMAN SYSTEMATIC GLOBAL SUSTAINABLE VALUE \"A\" (USD) ACC","LU1074936037.SGD":"JPMorgan Funds - US Value A (acc) SGD","LU2148510915.USD":"FULLERTON LUX FUNDS - CHINA A EQUITIES \"R\" (USD) ACC","BK4588":"碎股","LU2111349929.HKD":"ALLIANZ GLOBAL SUSTAINABILITY \"AM\" (HKD) INC","BK0188":"融资融券","LU0795875169.SGD":"JPMorgan Investment Funds - Global Income A (div) SGD-H","LU1989772840.SGD":"CPR Invest - Climate Action A2 Acc SGD-H","LU0267386448.USD":"FIDELITY FIRST ALL COUNTRY WORLD \"A\" (USD) INC","BK0015":"沪股通50","LU0477156953.USD":"HARRIS ASSOCIATES US VALUE EQUITY \"RE\" (USD) ACC","LU2236285917.USD":"ALLIANZ GLOBAL INCOME \"AMG\" (USD) INC","LU2213484517.USD":"FRANKLIN TEMPLETON CHINA A-SHARES \"A\" (USD) ACC","LU1791807156.HKD":"BGF WORLD FINANCIALS \"A2\" (HKDHDG) ACC","BK4581":"高盛持仓","LU1997244956.HKD":"ALLIANZ CHINA A-SHARES \"AT\" (HKD) ACC A","BK4585":"ETF&股票定投概念","LU2089283258.USD":"安联环球可持续基金Cl AM Dis","LU0234570918.USD":"高盛全球核心股票组合Acc Close","SG9999006597.SGD":"United China-India Dynamic Growth SGD","LU2360032135.SGD":"ALLSPRING GLOBAL EQUITY ENHANCED INCOME \"A\" (SGDHDG) INC","LU0320765646.SGD":"FTIF - Franklin Income A MDIS SGD-H1","LU2462157665.USD":"ALLIANZ GLOBAL INCOME \"A\" (USD) INC","LU0130517989.USD":"HARRIS ASSOCIATES US VALUE EQUITY \"R\" INC","LU1791710400.SGD":"Fidelity Global Demographics A-ACC-SGD"},"translate_title":"中国银行中金公司将以160亿美元的换股交易收购两家竞争对手","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"600030":0.9,"600958":0.9,"601059":0.9,"601136":0.9,"601198":0.9,"601211":0.9,"601688":0.9,"601881":0.9,"601939":0.9,"601995":0.9,"000166":0.9,"01359":0.9},"content_text":"Chinese bank CICC to buy two rivals in $16 billion share-swap dealSHANGHAI/BEIJING, Dec 17 (Reuters) - China International Capital Corp 601995.SS unveiled plans on Wednesday to buy two smaller rivals in a share-swap deal worth about $16 billion, as Beijing strives to build globally competitive investment banks via industry consolidation.State-owned CICC said it would take over Dongxing Securities 601198.SS and Cinda Securities 601059.SS to broaden its business network, expand its client base and strengthen capital as it seeks to become a top-tier investment bank.The acquisitions will create China's fourth-largest investment bank, with total assets of more than 1 trillion yuan ($142 billion), according to Soochow Securities.In an exchange filing, CICC said it planned to issue 3 billion China-listed shares at 36.91 yuan ($5.24) each in exchange for all outstanding shares of Dongxing and Cinda.CICC shares last traded at 34.89 yuan on November 19 before trading was suspended pending details of the merger.The transaction values Dongxing at 16.14 yuan per share, 23% above its last traded price of 13.13 yuan, while Cinda is valued at 19.15 yuan, an 8% premium.Shares in all three companies - controlled by sovereign fund Central Huijin Investment - will resume trading on Thursday. \"The restructuring would help the company develop into a globally competitive, first-rate investment bank,\" CICC said, adding it would also \"support China's capital market reform and high-quality growth of the securities industry\". ($1 = 7.0440 Chinese yuan renminbi) (Shanghai and Beijing newsroomEditing by Mark Potter) ((samuel.shen@tr.com))","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"shareholding,event","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.35.12","shortVersion":"4.35.12","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2592921809","isCrawlerRequest":true}