Guotai Junan International receives take-private offer at over $3.6 billion valuation

Hong Kong brokerage Guotai Junan International announced on Friday it received a conditional take-private offer from Guotai Haitong Financial Holdings. The proposal values the company at HK$28.59 billion ($3.64 billion). Shareholders will receive HK$3 in cash for each cancelled share, and the company will be delisted from the Hong Kong stock exchange.

This offer price represents a 44.2% premium to the company's last close on July 23, prior to a trading halt. An application has been filed with the stock exchange to resume trading on August 10. Following the transaction, Guotai Junan International will be incorporated as a unit within Guotai Haitong Financial Holdings.