Minmetals Capital Company Limited (SHSE:600390) announced a private placement of not more than 80,000,000 shares at a price of CNY 100 per share for gross proceeds of not more than CNY 8,000,000,000 on May 29, 2020. The company will issue preferred shares in the transaction. The transaction has been approved by the board of directors of the company in the second meeting of the eight board of supervisors. The transaction is subject to approval of the meeting of shareholders and China Securities Regulatory Commission. The preferred shares that are being issued are of a par value of CNY 100 per share, and will be issued at par value. The preference shares has a fixed dividend rate, accumulative, no repurchase terms, non-convertible preference shares arranged with a single jump and has no maturity period. The preferred shares issued are to be not more than 200 qualified investors who meet the requirements of the China Securities Regulatory Commission's preferred stock pilot administrative measures and other laws and regulations.