Qingdao Vland Biotech Inc. (SHSE:603739) announced private placement of 25,393,600 shares at a price of CNY 19.69 per share for gross proceeds of CNY 499,999,984 on October 16, 2020. The transaction includes participation from Tibet Shancheng Investment Consulting Co., Ltd. and Tibet Sizhuang Investment Consulting Co., Ltd. for 12,696,800 shares each. The shares will be issued at premium at a par value of CNY 1 pr share. The shares subscribed shall not be transferred within 18 months from the end of the issuance. The transaction is approved at the 4th meeting of the 4th board of directors and board of supervisors of the company. The transaction is subject to approval of company’s shareholders and the China Securities Regulatory Commission before closing. The shareholder's approval is valid for 12 months. The company's directorate decided to hold the 2nd special shareholders' meeting of 2020 on November 2, 2020 for the transaction.