Jiangsu Jibeier Pharmaceutical Co., Ltd. announced a private placement of not more than 18,000,000 A shares for gross proceeds of not more than CNY 298,161,900 on June 2, 2023. The transaction will include participation from not more than 35 investors. The transaction has been approved at the 2022 annual general shareholders meeting of the company.

The transaction is subject to the company’s directorate’s approval of the specific plan and the approvals of the Shanghai Stock Exchange and the China Securities Regulatory Commission. The shares cannot be transferred within 6 months from the issuance date.