News summary
Guolian Securities disclosed a major asset reorganization plan and plans to issue A shares to purchase 100% of Minsheng Securities. The total amount of funds raised will not exceed 2 billion yuan to develop Minsheng Securities business. the restructuringfortniteblockchainThe share issue price is set at 11fortniteblockchain.31 yuan/share.
Newsletter text
[Guolian Securities plans to purchase 100% of Minsheng Securities through A-share issuance] Guolian Securities announced a major asset reorganization plan, which will purchase the entire equity of Minsheng Securities from 46 trading parties including Guolian Group in the form of A-share issuance. At the same time, the company plans to issue A shares to no more than 35 specific investors and raise no more than 2 billion yuan to support Minsheng Securities 'business development. After announcing the termination of the fixed increase on April 25, Guolian Securities plans to acquire 10.87 billion shares of Minsheng Securities by issuing shares. Although the current audit and evaluation work has not yet been completed, the transaction price will refer to the evaluation report and be determined through negotiation between the parties to the transaction. In addition, Beijing Lier (002392), Time Publishing (600551) and Sophia (002572) also issued announcements that they plan to sell their shares in Minsheng Securities to Guolian Securities. The issue of goodwill has become the focus of the market. According to the minutes of Guolian Securities 'first quarter 2024 performance briefing meeting, the complementarity between the company and Minsheng Securities in terms of business, region and mechanism will form a strong synergy. Goodwill is expected to exceed 10 billion yuan, but referring to the experience of the CITIC Lyon acquisition, the processing of goodwill will be reduced. Management is optimistic about the annual assessment of goodwill and believes that under normal circumstances, there will be no significant impairment. Minsheng Securities has less derivatives business in its business structure, and after the merger, it will mainly contribute to the balance sheet of Guolian Securities. It is expected that in 2024, the combined company will meet relevant business qualification standards and significantly improve in the brokerage rankings.