Guosen Securities Plans to Buy Controlling Stake in Vanho Sec.

Guosen Securities on Aug. 21 signed an intentional agreement with Vanho Securities’ controlling shareholder Shenzhen Capital to acquire its 53% stake in the brokerage firm, according to a filing to the Shenzhen exchange.

• Plans to fund the acquisition by A-share issuance
• Details of the transaction still under discussion
• Shares to halt from trading from Aug. 22
• NOTE: Shenzhen State-owned Assets Supervision and Administration Commission is the biggest ultimate shareholder in both brokerages

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