Xinjiang Talimu Agriculture Development Co., Ltd. announced a private placement to issue not more than 114,453,840 shares for an aggregate gross proceeds of not more than CNY 820 million on April 30, 2022. 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 26th meeting of the 7th directorate of the company and are subject to the approval of the China Securities Regulatory Commission.