SafBon Water Service (Holding) Inc. (SZSE:300262) announced that it has signed a subscription agreement with Zhuhai Water Environment Holdings Group Ltd. for a private placement of 191,239,000 shares at an issue price of CNY 4.42 per share for gross proceeds of not more than CNY 845,276,400 on September 25, 2020. The shares shall not be listed for trading within 36 months from the date of the end of the offering. The transaction has been approved in the 17th meeting of the 4th directorate of the company, and is subject to approval of the company’s general meeting of shareholders, the approval of the relevant state-owned assets, the approval of the Anti-Monopoly Bureau of the State Administration for Market Regulation, the approval of the Shenzhen Stock Exchange, and the approval of the China Securities Regulatory Commission for registration.