BBMG Jidong Cement (Tangshan) Company Limited announced that it has entered into an agreement for private placement for gross proceeds of CNY 2,481,749,700 on January 9, 2019. The transaction will include participation from existing investors, BBMG Corporation (SEHK:2009) and Tangshan Jidong Concrete Co., Ltd. The investors will continue to retain its 47.09% and 52.91% respectively. Post-closing of the transaction, company registered capital will increase from CNY 3,000,000,000 to CNY 4,000,000,000. The transaction is subject to approval from shareholders of Tangshan Jidong Concrete Co., Ltd. The transaction has been approved by the board of directors of the BBMG Corporation (SEHK:2009) at its 5th session of its 5th directorate and board of directors of the Tangshan Jidong Concrete Co., Ltd. at its 17th session of its 8th directorate.