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DFZQ Shareholders Approve Shanghai Securities Acquisition

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Chinese broker DFZQ (SHA:600958, HKG:3958) shareholders approved the company's proposed acquisition of 100% of Shanghai Securities at an extraordinary general meeting on Monday, according to a Hong Kong bourse filing.

Shareholders also approved the issuance of A-shares under a specific mandate, a cash payment to fund the transaction, and a whitewash waiver.

All relevant resolutions were passed with more than 99% of the votes in favor.

The transaction remains subject to outstanding regulatory approvals, including those from the Shanghai Stock Exchange and the China Securities Regulatory Commission.

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