Bank of Nanjing Co., Ltd. (SHSE:601009) announced that it has entered into a conditional shares subscription agreement for a private placement of up to 1,696,000,000 A shares for gross proceeds of up to CNY 14,000,000,000 on May 20, 2019. The shares will have face value of CNY 1. The transaction will include participation from China National Tobacco Corporation, which will subscribe up to 363,428,571 shares and Jiangsu CommunicationS Holding Co., Ltd. which will subscribe up to 1,017,600,001 shares. The transaction will include participation from existing investors Nanjing Zijin Investment Group Co., Ltd. which will subscribe up to 193,828,571 shares and BNP Paribas (China) Limited which will subscribe up to 121,142,857 shares. The issue price shall not be lower than 90% of the median market price of the company’s shares 20 trading days prior to issuance date. Lock up period for China National Tobacco Corporation is 36 months and for Nanjing Zijin Investment Group Co., Ltd., BNP Paribas (China) Limited, and Jiangsu CommunicationS Holding Co., Ltd is 5 years from issuance date. Shares will be listed in the Shanghai Stock Exchange after completion of lock up period. The transaction was approved at the 17th meeting of the 8th directorate of the company and is further subject to the approvals of its shareholders and China Securities Regulatory Commission. The present plan will be valid for 12 months since approval from the shareholders’ meeting of the company.