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 July 31, 2017. The transaction will include participation from existing investors Nanjing Zijin Investment Group Co., Ltd. which will subscribe for not more than 181,714,287 shares, Nanjing Gaoke Company Limited (SHSE:600064) which will subscribe for not more than 72,685,715 shares, and Taiping Life Insurance Company Limited which will subscribe for not more than 458,019,357 shares, and new investors Jiangsu CommunicationS Holding Co.,Ltd which will subscribe for not more than 647,699,780 shares and Jiangsu Phoenix Publishing & Media Group Co., Ltd. which will subscribe for not more than 335,880,861 shares. The issue price shall be the higher value between 90% of the average trading price of the company's shares 20 trading days prior to the first day of issuance and the audited net asset value per share attributable to shareholders of the recent period prior to this issuance. Shares being issued are subject to a hold period of 36 months from the closing date of issuance. The transaction was approved at the 2nd session of the 8th directorate meeting of the company and is further subject to the approvals of its shareholders at its 2017 1st extraordinary general meeting to be held on August 21, 2017, China Banking Regulatory Commission Jiangsu office and China Securities Regulatory Commission. The transaction was approved at the 5th session of the 9th directorate meeting of Nanjing Gaoke Company Limited (SHSE:600064) and is further subject to the approval of its shareholders at its 2017 1st extraordinary general meeting to be held on August 18, 2017.

On August 18, 2017, the transaction was approved at the 2017 1st extraordinary general of investor Nanjing Gaoke Company Limited (SHSE:600064).