Shenzhen Salubris Pharmaceuticals Co., Ltd. (SZSE:002294) announced a private placement of not more than 70,000,000 A shares for gross proceeds of not more than CNY 2,000,000,000 on September 29, 2020. The total number of shares to be issued does not exceed 30% of the total equity before the issuance. The transaction will include participation from not more than 35 specific investors.

The transaction was approved at the sixth meeting of the fifth directorate. The transaction is subjected to the approval of shareholders, and China Securities Regulatory Commission for approval. The shares issued will have a restricted period of 6 months from the date of issuance.