Guangzhou Rural Commercial Bank Co., Ltd. announced a private placement of not more than 2,964,000,000 domestic shares on April 26, 2023. The transaction will include participation from note more than 35 investors. The transaction has been approved by the board of directors of the company.

The transaction is subject to approval from shareholders and the relevant regulatory authorities, including but not limited to China?s securities regulatory and management authorities and China?s banking supervisory and regulatory authorities and their local offices. The shares are subject to hold period of 5 years.