(Yicai) Dec. 18 -- China International Capital Corporation, one of the country’s leading brokerages, has unveiled the detailed scheme to acquire Dongxing Securities and Cinda Securities, two mid-sized competitors, through a share swap.

For every Dongxing share, CICC will issue 0.4373 of its Chinese mainland shares, while for every Cinda share, CICC will issue 0.5188 of its Chinese mainland shares, CICC announced yesterday.

In accordance with the terms of the agreement, CICC will issue a total of nearly 3.1 billion mainland shares. Afterward, Central Huijin will remain the company’s controlling shareholder and actual controller.

Once the deal is closed, the post-merger company will assume all assets, liabilities, businesses, employees, contracts, qualifications, and all other rights and obligations of Dongxing and Cinda, CICC noted.

On Nov. 19, CICC announced it had signed a preliminary share-swap merger deal with Dongxing and Cinda, aiming to create a firm with just over CNY1 trillion (USD142 billion) of assets. The three companies’ stocks suspended trading from Nov. 20 to today.

CICC [SHA: 601995; HKG: 3908] rose 5 percent to CNY36.65 (USD5.20) in Shanghai and 3.6 percent to HKD19.65 (USD2.52) in Hong Kong as of lunch break today. Dongxing [SHA: 601198] surged by the 10 percent exchange-imposed daily trading limit to CNY14.44, and Cinda [SHA: 601059] climbed 4.6 percent to CNY18.60.

After the merger is completed, the number of CICC business outlets will increase to 436 from 245, and that of its retail customers will jump to 14 million from 9.7 million, according to calculations from financial data from the first three quarters of this year.

Editor: Futura Costaglione