CSRC approved Western Securities to become a major shareholder of Guorong Securities.
The official website of the China Securities Regulatory Commission shows that the CSRC has approved Western Securities to become the major shareholder of Guorong Securities, and approved Shaanxi Investment Group to become the actual controller of Guorong Securities, Guorong Fund, and Shouchuang Futures. There is no objection to Western Securities legally acquiring 1,151,433,439 shares of Guorong Securities. Guorong Securities shall, within 30 working days, complete the procedures for the transfer of the above mentioned shares in accordance with the law.
The regulatory requirements state that Western Securities should, together with Guorong Securities, according to the preliminary integration plan submitted to CSRC, formulate and submit a specific integration plan within one year, specifying a timetable, and steadily and orderly advance the integration work of Guorong Securities and Western Securities. The integration work of Shouchuang Futures and Western Futures is also required to be completed steadily and orderly.
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