Ningxia Dayuan Chemical Co., Ltd. (SHSE:600146) announced a private placement of 360,000,000 common shares at CNY 8.33 per share for gross proceeds of CNY 2,998,800,000 on January 8, 2014.

On January 16, 2014, the company announced that the transaction will include participation from new investors, Changsha Hongze Asset Management Co., Ltd., which will invest for 150,000,000 shares to acquire 26.79% stake in the company and Hunan High-Tech Venture Capital Taibai Investment Enterprise, which will subscribe for 36,710,000 shares to acquire 6.56% stake in the company, and other investors, Shanghai Futian Investment Co., Ltd., which will subscribe for 36,000,000 shares, Donghai Fund-Xinlong No. 25 Asset Management Plan and Donghai Fund-Xinlong No. 26 Asset Management Plan managed by Donghai Fund Management Co., Ltd., which will subscribe for 36,000,000 shares, Hunan Zhengke Investment Management Partnership, which will subscribe for 27,750,000 shares, Jinan Woda Investment Partnership, which will subscribe for 26,000,000 shares, Dongying Guangjin Investment Partnership, which will subscribe for 20,000,000 shares, Shanghai Baoyu Equity Investment Partnership, which will subscribe for 16,340,000 shares, Hunan Shentaihong Technology Co., Ltd., which will subscribe for 8,800,000 shares, and Nantong Zhongnan Industrial Investment Co., Ltd. which will subscribe for 2,400,000 shares in the transaction. On the same date, the transaction was approved at the 32nd special meeting of the 5th directorate and 14th session of the 5th supervisory board meeting of the company. The transaction still needs to be approved by the company's shareholders' meeting and China Securities Regulatory Commission. The shares being issued in the transaction have a lock-in period of 36 months from the date of issuance. The shares being issued will represent 64.29% of the enlarged share capital of the company.