Changjiang & Jinggong Steel Building (Group) Co., Ltd (SHSE:600496) announced a private placement of common shares for gross proceeds of not exceed CNY 1,000,000,000 on April 7, 2020. The company will issue 543,133,560 shares, not more than 30% of total issued share capital at an issue price of not lower than 80% of the median market price of its shares as of 20 previous days to issuance date. The transaction will include not more than 35 specific investors. The transaction has been approved by the 2020 7th meeting of the 3rd directorate and subject to the approval from the shareholders meeting of the company and the China Securities Regulatory Commission. All securities issued pursuant to the transaction are subject to hold period of 6 months since issuance date.