Zhejiang Wolwo Bio-Pharmaceutical Co., Ltd. announced that it will issue no more than 157,075,200 A shares for gross proceed not more than CNY 725,000,000 on November 17, 2020. The company will issue shares at a price of not lower than 80% of the market price of the company?s shares as of 20 previous days to the date of issue. The share Issuance is not more than 30% of total share capital. The transaction will include participation from no more than 35 specific investors. The shares cannot be transferred within 6 months from the issuance closing date. The transaction has been approved in the 7th Meeting of the company's 4th Directorate, and is subject to the approvals of the Shareholders Meeting, the Shenzhen Stock Exchange, and the China Securities Regulatory Commission. On February 1, 2021, the company received acceptance for the transaction from the Shenzhen Stock Exchange under application number 25.