Guolian Securities to Buy Sinolink Securities
Posted on 09/20/2020
Guolian Securities Co., Ltd. of Wuxi, Jiangsu agreed to acquire Sinolink Securities Co, a listed company, through a share swap and stake purchase. Guolian Securities plans to issue China-listed A-shares to all Sinolink shareholders in an equity swap. In addition, Guolian Securities would buy a 7.82% stake in Sinolink from Changsha Yongjin (Group) Co., Ltd.
Financial conglomerate Changsha Yongjin Group controls Chinese brokerage firm Sinolink Securities. The Chinese government is encouraging the mergers of Chinese brokerages to create stronger competition against foreign brokerage firms.
