CICC (03908.HK): CSRC approves merger with Dongxing Securities and Cinda Securities; H-share cash election period set for 15-17 September

NewTimeSpace · 2026/09/07 21:49 · By Jiayi Sun

On 7 September 2026, CICC (03908.HK) announced that the CSRC had issued an approval (Zhengjian Xuke [2026] No. 2377) approving and consenting to the registration of its merger by absorption of Dongxing Securities and Cinda Securities together with related shareholding changes, satisfying the CSRC approval condition for the merger agreement. The company also set out its cash election arrangements: with the 2025 final dividend paid, the cash prices have been adjusted to RMB 34.57 per A share and HKD 18.60 per H share, and the H-share election period runs from 15 to 17 September (closing 4:30 p.m. on 17 September). CICC H shares closed at HKD 21.90 on 4 September, a premium of about 17.74% over the exercise price, and exercising the election may result in losses.

NewTimeSpace News: On 7 September 2026, China International Capital Corporation Limited (stock code: 03908) announced that the CSRC had issued an approval (Zhengjian Xuke [2026] No. 2377) on the same day, approving and consenting to the registration of the company's merger by absorption of Dongxing Securities Co., Ltd. and Cinda Securities Co., Ltd., together with the proposed changes of principal shareholders of the company, Dongxing Fund Management Co., Ltd. and Cinda Australia-Asia Fund Management Co., Ltd. and the equity/controlling shareholder changes of Dongxing Futures and Cinda Futures. Accordingly, the condition under the merger agreement regarding the receipt of the CSRC's approval and consent to registration has been satisfied.

On the same day, the company announced the indicative timetable for exercising the CICC cash election: following the payment of the CICC 2025 final dividend, the cash prices have been adjusted to RMB 34.57 per CICC A share and HKD 18.60 per CICC H share. The H-share election period will run from 15 to 17 September 2026 (aligned with the A-share period of three trading days), with eligible CICC dissenting shareholders required to complete their elections by 4:30 p.m. on 17 September; results are expected to be announced approximately 2 to 4 trading days after the election period, and trading in CICC A shares will be suspended from the commencement of the period.

The company noted that CICC H shares closed at HKD 21.90 on 4 September, a premium of approximately 17.74% over the H-share cash election exercise price of HKD 18.60, and that exercising the election may result in losses. China Galaxy Securities and New China Life Insurance have respectively undertaken to act as cash election providers for Dongxing and Cinda, with the acquired A shares to be converted into CICC A shares at the respective exchange ratios upon delivery.

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CICC 03908.HK Mergers and Acquisitions