Xiamen ITG Group Corp.,Ltd announced a private placement to issue not more than 400,000,000 shares for an aggregate gross proceeds of not more than CNY 3,700,000,000 on May 17, 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 tenth meeting of the company’s tenth board of directors in 2023 and it still needs to be approved by the Shanghai Stock Exchange and China Securities Regulatory Commission.