Xinjiang Tianshan Cement Co., Ltd. (SZSE:000877) announced that it has entered into a share subscription agreement for a private placement of not more than 167,638,483 A shares at CNY 6.86 per share for gross proceeds of up to CNY 1,149,999,993.38 on September 28, 2016. The round will include participation from returning investor, China National Materials Company Ltd (SEHK:1893) which will hold 45.81% stake from 35.49% stake in the company. Post-closing of the transaction, shares of the company will increase from 880,101,259 to 1,047,739,742. As part of the round, the investor, will acquire 16.000012% stake in the new capital of the company. The closing of the transaction is subject to approval from the company’s board, approval from the shareholders’ of the company at the general meeting, and approval from the regulatory authorities of state-owned assets. The transaction is expected to close within six months from the approval of the China Securities Regulatory Commission. If the above closing conditions are not met the agreement will stand cancelled. All securities to be issued will have a hold period of 36 months from closing.