Chongqing Construction Engineering Group Corporation Limited announced a private placement of not more than 544,359,055 A shares for gross proceeds of not more than CNY 2,063,000,000 on February 4, 2021. The transaction will include participation from not more than 35 investors. The company will issue shares at a price not less than 80% of the average price in the 20 trading days before the pricing reference date. The transaction has been approved in the 24th meeting of the 4th directorate of the company, and is subject to the approvals of the Chongqing State-owned Assets Supervision and Administration Commission, the company’s shareholders and the China Securities Regulatory Commission. All shares to be issued cannot be transferred for a period of 6 months from the closing date.