China Communications Construction Company Limited announced a private placement to issue not more than 300,000,000 non-convertible preferred shares at an issue price of CNY 100 for gross proceeds of not more than CNY 30,000,000,000 on January 12, 2023. The transaction will include participation from not more than 200 qualified investors. The transaction has been approved at the 14th meeting of the company's fifth board of directors.

The transaction is subject to approval of the State-owned Assets Supervision and Administration Commission of the State Council, the China Securities Regulatory Commission and other regulatory authorities before it can be implemented and shareholders of the company.