Yunnan Copper Co., Ltd. (SZSE:000878) announced a private placement of 859,828,874 A shares for gross proceeds of not more than CNY 1,200,000,000 on January 17, 2018. The transaction will include participation from not more than ten specific investors. Issuance price will be not lower than 90% of the median market price of the company's shares as of 20 previous days to issuance date.

The shares will have a lock up period of 36 months. The transaction has been approved at the 4th meeting of the 3rd directorate.