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

On August 7, Hong Kong-listed brokerage Guotai Junan International announced it had received a conditional take-private proposal from Guotai Haitong Financial Holdings. The deal would value Guotai Junan at HK$28.59 billion ($3.64 billion). Under the agreement, shareholders would receive HK$3 in cash for every share canceled and the company would be removed from the Hong Kong stock exchange.

The offer price was 44.2% higher than Guotai Junan's closing price on July 23, prior to a trading halt. An application was filed with the stock exchange to resume trading on August 10. Following the proposed transaction, Guotai Junan International would become a subsidiary of Guotai Haitong Financial Holdings.