Chinese Mega Merger Sends Brokerage Meme Stock Up by Limit
- Sealand surges after news of Guotai Junan, Haitong tie-up
- Sealand’s Chinese name sounds like pairing of merging firms
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A small Chinese brokerage has emerged as an unlikely winner from the merger plan of industry leaders Guotai Junan Securities Co. and Haitong Securities Co., thanks to its name.
Sealand Securities Co., whose Chinese name “Guohai” sounds like the merger of names for “Guotai Junan” and “Haitong,” saw its shares jump limit-up on Friday — far outperforming peers — after the merger proposal that will create the largest brokerage in China.