Shandong Rike Chemical Co., Ltd. (SZSE:300214) announced a private placement of not more than 45,000,000 shares for gross proceeds of not more than CNY 300,000,000 on January 15, 2021. The issue price shall not be less than 80% of the average price of the company’s stock trading on the 20 trading days before the average daily stock trading price of the company. The transaction will include participation from not more than 35 specific subscribers. The shares to be issued in the transaction will have a lock-up period of 6 months from issuance. The transaction has been approved at the 14th meeting of the 4th board of directors of the company. The transaction is subject to approval from company’s shareholders at first extraordinary general meeting of shareholders in 2021, Shenzhen Stock Exchange, and China Securities Regulatory Commission.