Suzhou Kelida Building& Decoration Co.,Ltd. (SHSE:603828) announced a private placement of not more than 156,000,000 A shares for gross proceeds of not more than CNY 569,400,000 on July 26, 2020. The company will 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 not more than 35 investors.

All shares to be issued cannot be transferred within six months from the closing date. The transaction has been approved in the 4th meeting of the 4th directorate and 3rd meeting of the 4th supervisory board of the company and is subject to approval in shareholders meeting, and China Securities Regulatory Commission.