CB International Group announced that it has entered into a subscription agreement with the subscriber for a private placement of 27,149,321 common shares for gross proceeds of HKD 23,300,000 on January 28, 2021. The transaction will involve participation from new investor China Binary Foundation Limited and returning investor China Binary New Fintech Group (SEHK:8255). Post the transaction, China Binary New Fintech Group (SEHK:8255)'s stake will reduce from 81.9% to 77.1%in the company and China Binary Foundation Limited's stake will be 5.8% in the company. The transaction is expected to close with 10 business day. All necessary approvals has to be obtained by the company in respect of the transactions contemplated under the subscription agreement in accordance with the applicable laws and regulations. The update of the register of members of the company should take place. Completion of the transaction shall take place within 10 business days after the fulfillment of the required conditions or at such other time as the parties may mutually agree upon. The transaction has been approved by the board of directors of China Binary New Fintech Group (SEHK:8255)