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the acquisition of minsheng securities by guolian securities is progressing at full speed.

on the evening of september 4, guolian securities issued an announcement showing that the company held its first extraordinary shareholders' meeting in 2024 on the same day, and reviewed and passed with a high vote relevant proposals such as guolian securities' acquisition of minsheng securities.

according to reports, the approval rate of the relevant proposals of this restructuring plan is above 98.3%, and it was passed by the shareholders' meeting with a high vote, showing the firm confidence of all shareholders in this transaction and the leapfrog development of restructuring and integration. for the majority of shareholders, this means that guolian securities will achieve long-term value growth through mergers and reorganizations, bringing more generous long-term returns to all shareholders.

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all proposals related to the restructuring plan were passed with overwhelming votes

guolian securities' acquisition of minsheng securities has made new progress!

on the evening of september 4, guolian securities issued the resolution announcement of the first extraordinary general meeting of shareholders in 2024 and the first a-share class general meeting of shareholders in 2024. the announcement showed that the first extraordinary general meeting of shareholders in 2024 was held on the same day, and the relevant proposals on guolian securities' acquisition of minsheng securities and other related proposals were reviewed and passed with a high vote.

according to the resolution announcement of the shareholders' meeting of guolian securities, the approval rate of the relevant proposals of this restructuring plan was above 98.3%.

according to people familiar with the matter, the relevant proposal was passed by the shareholders' meeting with a high vote, demonstrating the firm confidence of all shareholders in the transaction and the leapfrog development of the restructuring and integration. for the majority of shareholders, this means that guolian securities will achieve long-term value growth through mergers and reorganizations, bringing more generous long-term returns to all shareholders.

previously, guolian securities stated that it will make full use of wuxi's industrial advantages and shareholder empowerment, and shanghai's financial resources and talent concentration advantages to achieve the expansion of its geographical business territory, sharing of customer and channel resources, and complementarity of business advantages. it will also achieve synergy in various businesses, thereby achieving leapfrog development, further enhancing the comprehensive competitiveness and sustainable development capabilities of listed companies, maximizing the interests of listed company shareholders, and enhancing the sustainable operating capabilities of listed companies.

according to the procedures, the subsequent restructuring project still needs to complete material submission, regulatory inquiries, board review and registration. guolian securities said that it will follow the relevant regulatory requirements to steadily and orderly advance the completion of relevant work, laying a solid foundation for the steady progress of the subsequent integration work of both parties.

the m&a process is progressing rapidly

looking back, the restructuring of guolian securities progressed quite quickly.

on april 26, guolian securities issued the "suspension announcement on planning major asset restructuring", and successfully completed the shareholders' meeting review on september 4. in just over four months, the restructuring and integration of guolian securities and minsheng securities efficiently completed all internal decision-making procedures and entered the regulatory review stage.

just the day before, guolian securities announced that it had received a reply from the jiangsu provincial state-owned assets supervision and administration commission, which in principle agreed to guolian securities' asset restructuring and supporting financing plan. judging from the pace, guolian securities' acquisition can be considered "intensive".

according to the restructuring draft, guolian securities plans to purchase 99.26% of minsheng securities shares from guolian group and 45 other counterparties by issuing a-shares, with a transaction value of 29.492 billion yuan.

at the same time, guolian securities plans to issue shares to no more than 35 specific investors to raise matching funds, with the total amount of matching funds raised not exceeding rmb 2 billion, and the number of a shares issued not exceeding 250 million shares. after deducting the intermediary agency fees and transaction taxes and fees, the matching funds raised in this transaction will all be used to increase the capital of minsheng securities, which will be used to develop minsheng securities' business.

so far, compared with other securities companies' mergers and acquisitions and restructuring cases in progress, the work progress of guolian and minsheng is the fastest. the market believes that the successful completion of this transaction will hopefully become the first securities company merger and acquisition case approved after the central financial work conference and a model case for the integration of the yangtze river delta.

the industry believes that guolian securities and minsheng securities have strong complementary business advantages and regional advantages. in terms of leveraging the advantages of each business, the two companies can be fully integrated through integration, such as leveraging guolian securities' advantages in wealth management, fund investment consulting, asset securitization, and minsheng securities' investment banking, research and sales, equity investment business, etc., to further open up space for future development.

in terms of leveraging regional complementary advantages, the two companies can quickly form significant customer and scale advantages through integration. among them, minsheng securities has a strong market influence in henan, while guolian securities has a high market share in wuxi and southern jiangsu. after the completion of the integration, the two companies can leverage their synergistic and complementary advantages and reach a new level of development.

previously, guolian group emphasized that the steady and orderly promotion of the integration of the two securities companies is not only an important measure to actively respond to the spirit of the central financial work conference and implement the new "nine national policies" and other policy requirements, but also a strategic measure to adhere to the origin of its business, improve and strengthen itself, and build a large securities company with distinctive business characteristics, a leading market ranking, and strong competitiveness to better serve the high-quality development of the economy and society. the successful completion of the reorganization and integration of the two companies will become a benchmark case in the industry for securities companies to enhance their core competitiveness through mergers and acquisitions after the central financial work conference first proposed to build a "first-class investment bank".