Feb. 8, 2010 (China Knowledge) - Shenzhen-listed Yan Bian Road Construction Co Ltd<000776> on Wednesday announced that it has secured approval from the China Securities Regulatory Commission to merge with GF Securities Co, paving the way for a back-door listing of the country's fifth-largest securities broker, which was proposed three years ago, sources reported. 

An executive from GF Securities, who declined to disclose identity, expects that the deal to be completed soon, and that GF Securities is likely to list on the A share market in June.

GF Securities reaped a net profit of RMB 4.69 billion in 2009, 48.7% more than in the previous year, according to an earlier report from China Knowledge.