CSC Financial Co., Ltd. (SEHK:6066) announced a private placement of not more than 1,277,072,295 A shares for the gross proceeds of not more than CNY 13,000,000,000 on January 21, 2019. The issue price of the transaction shall be no less than 90% of the average trading price of the A shares of the company for the 20 trading days preceding the price determination date or the last audited net asset per share attributable to the ordinary shareholders of the parent company of the company, whichever is higher. The transaction will include participation from not more than 10 investors.

The shares will be issued at premium to par value of CNY 1 per share. The investors holding 5% or more of the shares of the company is subject to 48 months hold period and investors holding less than 5% shares of the company is subject to the hold period of 12 months from the date of completion of the transaction. The investors will acquire 14.31% enlarged stake in the company.

The share capital of the company will increase from 7,646,385,238 shares to 8,923,457,533 shares. The transaction has been approved by the board of the 10th meeting of the second directorate of the company and the resolution is valid for 12 months. The transaction is subject to approval from shareholders at its extraordinary general meeting.

A class meeting, and H class meeting, China Securities Regulatory Commission.