Sichuan New Energy Power Company Limited announced a private placement of not more than 442,778,000 shares for a gross proceeds of not more than CNY 2,265,209,500 on January 19, 2023. The company shall issue shares at a price not less than 80% of the average price in the 20 trading days before the pricing reference date. The transaction will include participation from no more than 35 investors. The shares to be issued shall have a hold period of 6 months from closing of the transaction. The transaction has been approved at the 16th session of the 8th directorate and by the 26th session of the 8th directorate. The transaction is still subject to approval from shareholders, the State-owned Assets Supervision and Administration Commission of the State Council and the China Securities Regulatory Commission.

On March 10, 2023, the company received Shenzhen Stock Exchange?s Acceptance (Acceptance [2023] No. 257) with respect to the transaction.