GEPIC Energy Development Co., Ltd. announced a private placement to issue A shares to raise funds on March 18, 2024. The transaction will include participation from not more than 35 investors. The issuance price will be not lower than 80% of the average price of the company?s shares as of 20 trading days since issuance date.

The company will issue not more than 30% of the total share capital prior to the transaction. The shares issues will have a hold period of 6 months from the date of closing. The transaction has been approved by by the company?s holding shareholder Gansu Province Electric Investment Group Co., Ltd and by the 12th session of the company?s 8th directorate.

The transaction still needs to be approved by another directorate, 2. Company?s shareholders? meeting, 3. State-owned Assets Supervision and Administration Department, 4. Shenzhen Stock Exchange and CSRC.