【1428】Iconic Securities Resumes Trading with 64% Surge as Ant Group Entry Transaction Conditions Met

SocialAnxietyStaker · 2026-03-17T02:02:55+00:00

Ant Group has met the transaction conditions for acquiring Yao Cai Securities. Following the resumption of trading, Yao Cai Securities' stock price surged significantly. The transaction has been approved by the National Development and Reform Commission, with implementation expected on March 30, 2026, and the validity period of Ant Group's major shareholders' approval extended to April 30, 2026.

SocialAnxietyStaker

2026-03-17 02:02:55

Abstract generation in progress

Ant Group’s acquisition of Yau Tai Securities Financial (01428) has reached the transaction conditions. Yau Tai Securities resumed trading on Tuesday (17th), opening 64.62% higher at HKD 15.26, and is currently up 61.9% at HKD 15.01, with a trading volume of about HKD 2.5 billion.

Yau Tai Securities Financial announced after market close on Monday (16th) that Ant Group has completed the reporting procedures to relevant Chinese authorities for the proposed transaction under the “Regulations on the Administration of Outbound Investment by Enterprises,” related to high-value, non-sensitive investments. Therefore, condition © has been fulfilled, meaning Ant Group’s acquisition of Yau Tai Securities Financial has received approval from the National Development and Reform Commission, allowing the deal to be completed before the final offer deadline of March 25, 2026.

Both parties currently expect to finalize the share purchase agreement by March 30, 2026. Aside from the completion conditions that can only be satisfied upon the fulfillment of the agreement, all other conditions have been met.

Additionally, Ant Group was approved by the Hong Kong Securities and Futures Commission in September 2025 to become a major shareholder of Yau Tai Securities. This approval must be finalized by March 23, 2026, and Ant Group has applied for this extension, which has been granted, extending the validity of the major shareholder approval until April 30, 2026.

Source: Announcement

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