Qilu Bank Co., Ltd. announced that it has entered into share subscription for a private placement of up to 246,210,000 common shares with new investor Yanzhou Coal Mining Co. Ltd at CNY 3.18 per share for gross proceeds of up to CNY 782,947,800 on December 23, 2014. As a part of the round, the investor will acquire a total of 8.67% stake in the company.

The company will receive first tranche within three months and remaining tranches shall be received within 12 months. All securities to be issued will have a lock up period of five years. The transaction was approved at the 5th meeting of 6th board of directors of Yanzhou Coal Mining Co.

Ltd. The transaction was also approved at the 5th meeting of 6th board of directors and the 2014 1st extraordinary shareholders meeting of the company. The transaction is not subject to approval from the shareholders of the investor. The transaction is subject to approval from China Banking Regulatory Commission and China Securities Regulatory Commission.

In 2013, the company had operating revenue of CNY 2,834,000,000; net profit before tax of CNY 1,250,123,366; and net profit of CNY 1,011,123,510. The company had the total assets of CNY 94,004,000,000 and the shareholders' equity of CNY 6,002,000,000 as of December 31, 2013. The transaction was approved at the fifth board meeting of the sixth session of the board of the company and approved by the 2014 first extraordinary general meeting of the company.