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FINWIRES

DFZQ Gets Shanghai Bourse Nod to Acquire Shanghai Securities

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The Shanghai Stock Exchange has accepeted Chinese broker DFZQ's (SHA:600958, HKG:3958) application to acquire 100% of Shanghai Securities through the issuance of consideration A shares and cash, according to a Wednesday Hong Kong bourse filing.

The exchange found the application documents to be complete and in the prescribed form, and will begin the review process for the proposed transaction.

The acquisition remains subject to Shanghai Stock Exchange consent as well as approval and registration by the China Securities Regulatory Commission, the filing said.

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