11 November 2019

King & Wood Mallesons advises CITIC Securities on the unconditional approval of its acquisition of Guangzhou Securities

On 30 October 2019, CITIC Securities Company Limited (“CITIC Securities”, 600030. SH) acquiring a 100% equity of Guangzhou Securities Co., Ltd. (“Guangzhou Securities”) by selling shares to Guangzhou Yuexiu Financial Holdings Group Co., Ltd. (“Yuexiu Financial Holdings”, 000987. Shenzhen) and its wholly-owned subsidiary is unconditionally approved by the Merger, Acquisition and Reorganization Examination Committee of Listed Companies of China Securities Regulatory Commission (“CSRC”).

CITIC Securities, one of the first comprehensive securities companies approved by CSRC and also the largest Chinese securities company, is in a leading market position in business sectors including investment banking, brokerage, asset management and financing and securitization. Guangzhou Securities, 100% held by Yuexiu Financial Holdings and its wholly-owned subsidiary, is a comprehensive securities company that has long been rooted in Guangdong and does business across the nation.

The deal, involving asset restructuring of two listed companies in SSE and SZSE, is another acquisition of a securities company made by CITIC Securities since 2003, after buying Univest Securities, China Securities, Jintong Securities and CLSA. The closely-watched deal will help CITIC Securities seize the historical opportunities brought by the Belt and Road Initiative and the Greater Bay Area Plan to strengthen its core competitiveness in South China. Innovatively, the acquisition will shed some light on the future market acquisitions in the industry.

As the legal counsel for CITIC Securities, KWM has provided an all-round legal service for the deal, helping it successfully pass the CSRC review unconditionally.

The project is led by partners Gao Yimin, Jia Diyan, Jiang Yifeng.


Media contact

Share on LinkedIn Share on Facebook Share on Twitter
    You might also be interested in

    On 22 July 2020, Qi An Xin Technology Group Inc. (“Qi An Xin Group”) made its A-share IPO on the Sci-Tech Innovation Board of the Shanghai Stock Exchange under the stock code: 688561.

    24 July 2020

    On 22 July, 2020, King & Wood Mallesons (KWM) Restructuring & Insolvency partner Mr. Wang Xin was recognized as one of the 2020 ALB China Top 15 Rising Lawyers by Asian Legal Business (ALB) .

    21 July 2020

    On 9 July 2020, HG Technologies Co., Ltd. ("HG TECH") made its first offering on the Growth Enterprises Market of the Shenzhen Stock Exchange.

    16 July 2020

    On 17 June, 2020, China Pacific Insurance (Group) Co., Ltd. ("CPIC") held a listing ceremony at the Shanghai Stock Exchange.

    10 July 2020

    This site uses cookies to enhance your experience and to help us improve the site. Please see our Privacy Policy for further information. If you continue without changing your settings, we will assume that you are happy to receive these cookies. You can change your cookie settings at any time.

    For more information on which cookies we use then please refer to our Cookie Policy.