Anhui Liuguo Chemical Co., Ltd. announced a private placement of 156,480,000 A shares at an issue price of CNY 5.112 per share for gross proceeds of not more than CNY 800,000,000 on December 30, 2022. The transaction will include participation from returning investor Tongling Chemical Industry Group Co.,Ltd. for 70,452,256 shares, having hold period for it is 18 months. For rest of the investor, the securities issued in the transaction have a hold period of 6 months.

Post the closing of the transaction, the investor will hold more than 30% stake of the company. The transaction has been approved in the eighth meeting of the eighth board of directors of the company and is subject to approval by the company?s shareholders meeting and by the China Securities Regulatory Commission.