DEPPON LOGISTICS Co., LTD. (SHSE:603056) announced a private placement of not more than 288,000,000 A shares at a price of CNY 9.20 per share for gross proceeds of not more than CNY 614,000,000 on January 24, 2021. The transaction will include participation from YUNDA Holding Co., Ltd. (SZSE:002120). The company has signed a strategic agreement with conditional effectiveness with the investor.

The company will not issue more than 30% of the existing share capital of the company. The transaction has been approved by the board of directors of the company at its 16th meeting of the 4th board of directors, the 22nd meeting of the 4th board of directors, the 24th meeting of the 4th board of directors, and the 2019 annual general meeting of shareholders, and is subject to approval from the China Securities Regulatory Commission and other regulatory authorities.