HK Stock Market Move | HAITONG UT (01905) rose over 6% in early trading, with reports that Guotai Haitong is seeking to consolidate its overseas business and considering privatizing HAITONG UT.

HAITONG UT (01905) rose over 6% in early trading, and as of the time of publication, it is up 5.42%, priced at HKD 0.875, with a turnover of HKD 5.8564 million. In terms of news, on August 7, GUOTAI JUNAN I announced that Guotai Haitong Financial Holdings plans to privatize GUOTAI JUNAN I at a price of HKD 3 per share. According to reports cited by Guandian, Guotai Haitong is exploring options to consolidate its international business, considering the privatization of another subsidiary, HAITONG UT. Public information shows that HAITONG UT primarily engages in financial leasing, purchasing physical assets and renting them to multiple industries. Privatizing HAITONG UT is expected to help Guotai Haitong consolidate overlapping overseas operations into a single listed entity. This move also aligns with the strategy for consolidation in the Chinese securities industry, aiming to better compete with Wall Street giants and international companies.