--China International Capital Corp. and peer China Galaxy Securities plan to merge, Reuters reported, citing unnamed sources.
--The merger, which would create China's third-largest brokerage, has secured backing from Chinese authorities in recent weeks and could be announced in the coming weeks, Reuters said.
--The two brokerages seek to merge via a share swap, Reuters reported.
--CICC and Galaxy didn't respond to Reuters's requests for comment.
Full story: https://www.reuters.com/markets/deals/cicc-merge-with-galaxy-securities-form-chinas-no3-brokerage-say-sources-2025-02-26/
Write to Sherry Qin at sherry.qin@wsj.com
(END) Dow Jones Newswires
February 26, 2025 03:22 ET (08:22 GMT)
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