Shanxi Road & Bridge Co.,Ltd announced that it has entered into a share subscription agreement with China Merchants Expressway Network & Technology Holdings Co., Ltd for a private placement of not more than 140,779,325 shares at an issue price of CNY 3.41 per share for gross proceeds of not more than CNY 480,057,498 on August 24, 2020. The securities issued in the transaction will be subject to a hold period of 36 months.