Inner Mongolia Baotou Steel Union Co., Ltd. (SHSE:600010) announced that it has entered into a conditional share subscription agreement for a private placement of not more than 9,117,006,529 A shares for gross proceeds of not more than CNY 10,000,000,000 with returning investor Baotou Iron & Steel (Group) Co., Ltd. on April 18, 2018. The shares issued to the investor will be subject to a hold period of 36 months after closing within which shares cannot be transferred. The issue price of shares shall not be lower than 90% of the average stock price 20 trading days before the pricing reference date and its most recent period’s audited net assets per share at the time of the share issuance, whichever is higher. The pre-plan of the transaction was approved at the company’s 5th supervisory board’s 6th meeting, and 5th directorate in its 13th meeting. The transaction is subject to approval from the State-owned Assets Supervision and Administration Commission institution, from the company’s shareholders, and from China Securities Regulatory Commission.