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China Cinda Asset Management Co ( (HK:1359) ) just unveiled an update.
China Cinda Asset Management has approved acting as a put option provider in connection with the proposed mergers of Cinda Securities and Dongxing Securities into CICC, where CICC will issue A shares in exchange for all issued shares of the two brokerages to achieve a merger by absorption. Under PRC regulatory requirements, dissenting Cinda Securities A shareholders will be offered a cash put option at RMB17.79 per share, subject to potential adjustment for a 2025 final dividend.
The company’s board authorized China Cinda to acquire Cinda Securities A shares from qualified dissenting shareholders for up to RMB500 million and to issue an irrevocable letter of undertaking to that effect. China Cinda committed to arrange its own funding, comply with all legal and regulatory obligations, and adjust the undertaking if Chinese regulators introduce new rules, providing greater certainty and liquidity for minority shareholders during the merger process.
More about China Cinda Asset Management Co
China Cinda Asset Management Co., Ltd. is a Chinese financial services group primarily engaged in asset management and related investment activities, including handling distressed assets and providing restructuring solutions in the domestic capital market. The company is listed in Hong Kong with multiple series of U.S. dollar-denominated guaranteed senior notes, reflecting its active participation in international debt capital markets.
YTD Price Performance: -11.72%
Average Trading Volume: 62,413,039
Technical Sentiment Signal: Sell
Current Market Cap: HK$43.13B
See more data about 1359 stock on TipRanks’ Stock Analysis page.