GLP Renewable Energy Investment I Limited signed the share transfer agreement to acquire 10.4% stake in Ningxia Jiaze Renewables Corporation Limited (SHSE:601619) from Jinyuan Rongtai Investment Management (Ningxia) Co., Ltd. for CNY 1.38 billion on October 8, 2021. Under the terms of consideration, GLP Renewable Energy Investment I Limited will acquire 251.8 million shares at price of CNY 5.5 per share. The deal is subject to approval from shareholders of Ningxia Jiaze Renewables Corporation Limited.

The transaction is approved by hte board of directors of Ningxia Jiaze Renewables Corporation Limited. As on October 26, 2021, the transaction has been approved by the Ningxia Jialong New Energy Operation Management Co., Ltd shareholders.