Kehua Holdings Co., Ltd. announced a private placement of not more than 40,000,000 A common shares to be issued at a price of CNY 8.85 per share for gross proceeds of not more than CNY 354,000,000 on June 17, 2022. The transaction will include participation from Chen Wei. All shares issued will be subject to a lock-up period of 36 months. The transaction has been approved in the 8th meeting of the company's 3rd directorate, and is subject to approval in general meeting of shareholders of the company, and from China Securities Regulatory Commission.
On the same date, the company signed Share Subscription Agreement.