ENN Ecological Holdings Co., Ltd. (SHSE:600803) announced a private placement of not more than 245,871,156 class A common shares on September 9, 2019. The transaction will include participation from not more than 10 investors. The company will issue shares at a price not be lower than 90% of the average stock price 20 trading days before the first day of issuance. The securities to be issued will be subject to a lock-up period of 12 months. The transaction has been approved by the company's 9th directorate in its 4th meeting, 9th supervisory board in its 3rd meeting, and Securities and Futures Commission of Hong Kong, and is subject to the approval of secondary directorate approval by the company’s board of directors, shareholders of the company, China Securities Regulatory Commission, Ministry of Commerce, Anti-monopoly Bureau of the State Administration for Market Regulation, and National Development and Reform Commission.