State Grid Information & Communication Co., Ltd. announced that it has received CNY 1.480972288 billion in funding from a group of investors

State Grid Information & Communication Co., Ltd. (SHSE:600131) announced a private placement of 88,048,293 A shares at a price of CNY 16.82 per share for the gross proceeds of CNY 1,480,972,288.26 on April 24, 2020. The transaction included participation from GF Fund Management Co., Ltd. for 15,546,967 shares for the gross proceeds of CNY 261,499,984.94, China Structural Reform Fund Co., Ltd. a fund managed by Chengtong Fund Management Co., Ltd. for 21,359,834 shares for the gross proceeds of CNY 359,272,407.88, Three Gorges Capital Holdings Co., Ltd. for 17,835,909 shares of gross proceeds CNY 299,999,989.38 and other investors. The company paid issue expenses of CNY CNY 37,473,866.42 in the transaction.

The company received net proceeds of CNY 1,443,498,421.84 in the transaction. The amount included in the share capital is CNY 88,048,293.00, and the amount included in the capital reserve is CNY 1,357,550,828.21. The shares carry a hold period of 6 months.