Early trading on Monday, $GLMS SEC (01456.HK)$Hong Kong shares opened more than 70% higher. In terms of news, GL Securities announced its intention to absorb and merge with $Sinolink (600109.SH)$. As of this writing, gains have narrowed to 55%.
On the afternoon of September 20th, GL Securities and Guojin Securities simultaneously announced that Changsha Yongjin, the controlling shareholder of Guojin Securities, signed a share transfer framework agreement with GL Securities on September 18th. Changsha Yongjin intends to transfer approximately 7.82% of its shares in Guojin Securities to GL Securities.
At the same time, these two brokerages are planning for GL Securities to absorb and merge with Guojin Securities by issuing A-share stocks to all shareholders of Guojin Securities in exchange for their shares. Both parties signed an intent agreement regarding this merger on September 18th. This