Shaanxi International Trust Co., Ltd. (SZSE:000563) announced a private placement of not more than 1,189,203,853 A shares for gross proceeds of not more than CNY 3,600,000,000 on January 22, 2021. The issuance price shall not be lower than whichever is higher of: 80% of the average trading price of the companys stocks 20 trading days before the pricing base date and the companys audited net asset value per share attributable to shareholders of the parent company during the most recent period before the issuance. The transaction will include participation from not more than 35 specific investors. The shares issued will be subject to restriction period of six months from the closing. The transaction has been approved at the 15th meeting of 9th board of directors, and is subject to approval from shareholders, The competent state-owned regulatory body, Shaanxi Banking and Insurance Regulatory Bureau, China Securities Regulatory Commission.
On February 23, 2021, the company received approval of shares from Shaanxi Provincial Department of Finance.