China Merchants Port Group Co., Ltd announced that it has entered into agreement for a private placement of 576,709,537 A shares at a price of CNY 19.31 per share for gross proceeds of CNY 11,136,261,159.47 on July 13, 2021. The transaction will include participation from Zhejiang Provincial Seaport Investment & Operation Group Co., Ltd. The issuance price is not less than 80% of the average price of the company's stocks 20 trading days before the pricing base date. The transaction was approved by the board of directors of the company at its sixth interim meeting of tenth board of directors in 2021 and subject to approval of the company's general meeting of shareholders, the approval of the State-owned Assets Supervision and Administration Commission of the State Council, and the approval of the China Securities Regulatory Commission.

The securities to be issued will have a lock-up period of 36 months. The resolution of this issuance is valid for 12 months from the date of deliberation and approval by the company's shareholders meeting.