Fangcheng Port Chisha Terminal Co., Ltd. announced that it has signed a subscription agreement for the private placement of common shares for the gross proceeds of CNY 300,000,000 on April 26, 2021. The transaction will include participation from returning investors Beibu Gulf Port Co., Ltd. (SZSE:000582) for CNY 144 million, COSCO SHIPPING Ports Limited (SEHK:1199) for CNY 60 million, Guangxi Iron & Steel Group Company Limited for CNY 60 million, Guangxi Huasheng New Materials Co., Ltd. for CNY 21 million and South China Mining Investments Limited for CNY 15 million. Post completion of the transaction, the capital of the company will increase from CNY 10,000,000 to CNY 310,000,000.

The transaction has been approved by the board of directors of Beibu Gulf Port Co., Ltd. (SZSE:000582) in the 37th meeting of the 8th Board of Directors. Post closing Beibu Gulf Port Co., Ltd. (SZSE:000582) COSCO SHIPPING Ports Limited (SEHK:1199), Guangxi Iron & Steel Group Company Limited, Guangxi Huasheng New Materials Co., Ltd. and South China Mining Investments Limited will retain their stake in company as per the existing shareholding ratios i.e. 48%, 20%, 20%, 7% and 5% stake respectively.