Jiangsu Lianyungang Port Co., Ltd. announced that it has signed share subscription agreement to issue not more than 372,191,401 A shares for the gross proceeds of not more than CNY 1,500,000,000 on March 11, 2022. The transaction will include participation from returning investor, Shanghai International Port (Group) Co., Ltd. The company will issue shares at a price which is 80% of the average price of the company's stocks on the 20 trading days before the pricing base date. The securities issued in the transaction are subject to a hold period of 36 months from the closing of the transaction. The transaction has been approved by the board of directors of the company at the 18th meeting of the 7th directorate and the 14th meeting of the 7th supervisory board. The transaction still needs to be approved by the state-funded enterprise, the China Securities Regulatory Commission, and the shareholders of the company.

On March 21, 2022, the transaction got approved by the shareholders of Lianyungang Port Holdings Group Co., Ltd., parent of the company.