Shanghai Lingang Economic Development Group Investment Management Co., Ltd announced a private placement of common shares for gross proceeds of CNY 5,085,000,000 on September 19, 2020. The transaction will include participation from returning investor Shanghai Lingang Holdings Co.,Ltd. (SHSE:900928). Upon completion, the investor will maintain 100% stake in the company and the registered capital of the company will increase from CNY 2,033,400,000 to CNY 7,118,400,000.