Yantai Guoxing Copper Company Limited announced that it has entered into a purchase agreement for a private placement of common shares for gross proceeds of CNY 500 million on January 3, 2019. The transaction will include participation from existing investors Jiangxi Copper Company Limited (SEHK:358) and Yantai Guofeng Investment Holding Company Limited and will maintain 65% and 35% stake respectively in the company. Post the closing, the registered capital of the company will increase from CNY 500 million to CNY 1,000 million. The transaction is subject to approval by the shareholders of the company. The investors agreed to make the investment in the company no later than 24 months from the date of shareholders' approval.