China National Chemical Engineering No.16 Construction Company announced a private placement of common shares from existing investor China National Chemical Engineering Co., Ltd (SHSE:601117) for gross proceeds of CNY 20,000,000 on January 25, 2019. The investor will retain its 100% stake in the company. Post closing, the registered capital of the company will increase from CNY 480,000,000 to CNY 500,000,000. The transaction was approved in the 25th meeting of the third directorate of investor.