China Chengtong Finance Corporation Ltd announced a private a private placement of shares for gross proceeds of CNY 5,280,000,000 on June 23, 2017. The transaction will include participation from existing investor, Foshan Huaxin Packaging Co., Ltd for gross proceeds of CNY 396,000,000. The amount of CNY 300,000,000 will be a part of registered capital of the company and CNY 96,000,000 will be taken as capital reserve.

The company will hold a stake of 10% after the closing of the transaction. The transaction has been approved in the 4th session of the 7th directorate of the investor. The transaction is subject to approval in shareholders' meeting of the investor.

The registered capital of the company will increase from CNY 1,000,000.000 to CNY 5,000,000,000 after the completion of the transaction.