Dynagreen Environmental Protection Group Co., Ltd. (SEHK:1330) announced private placement of not more than 232,240,000 A shares for gross proceeds of not more than CNY 2,390,000,000 on October 30, 2019. The issue price will be not less than 90% of the average stock price 20 trading days before the first date of issuance and not less than the recent period’s audited net asset value per share attributed to the common shareholders of the parent company. The company will issue stake of 23.48% on 1,161,200,000 A shares basis and 16.67% on 1,393,440,000 total shares on a enlarged basis in the transaction. The transaction will include participation from not more than 10 specific investors including existing investor Beijing State-Owned Assets Management Co., Ltd. for not more than 133,000,000 shares and not less than 40% of total issue size. Upon closing, Beijing State-Owned Assets Management Co., Ltd.'s stake in the company will increase from 43.1614% to 45.5125% stake. The company has signed subscription agreement with Beijing State-Owned Assets Management Co., Ltd. All shares subscribed by Beijing State-Owned Assets Management Co., Ltd. will have lock-up of 36 months and all shares subscribed by other investors will have lock-up of 12 months from issue. The shares will be issued at premium to par value of CNY 1 per share. The transaction has been approved by the 15th meeting of its 3rd directorate. The transaction is subject to approval of State-Owned Assets Supervision and Administration Commission, from its A and H shareholders, and from China Securities Regulatory Commission. The completion of transaction is subject to the satisfaction of certain conditions. The resolution for transaction shall be valid for 12 months from the date of the passing of such resolutions at the extraordinary general meeting, the A shares class meeting and the H shares class meeting.