Jiangsu SOPO Chemical Co. Ltd. (SHSE:600746) announced that it has entered into an agreement with Zhenjiang State-Owned Investment Holding Group Company Limited to issue not more than 60,000,000 common shares for gross proceeds of not more than CNY 400,000,000 on January 9, 2019. Pricing reference date will be the first day of issuance. Issue price for the shares to be issued shall be 90% of the average stock price 20 trading days before the pricing reference date. The shares have a hold period of 36 months. The transaction has been approved at the 6th meeting and 7th meeting of the 8th supervisory board of the company, Zhenjiang Sopo Chemical New Development Co., Ltd.’s directorate and shareholders on December 17, 2018 and January 2, 2019 respectively, Jiangsu Sopo (Group) Co., Ltd.’s directorate on December 17, 2018, approval from the Zhenjiang State-Owned Investment Holding Group Company Limited’s directorate on December 14, 2018, State-Owned Assets Supervision and Administration Commission of Zhenjiang City regarding Zhenjiang State-Owned Investment Holding Group Company Limited’s subscription in cash on January 9, 2019. The transaction is subject to approval from the State-Owned Assets Supervision and Administration Commission of Jiangsu Provincial Government, company’s shareholders, and China Securities Regulatory Commission.