Hello, private placement mainly depends on the strategic purpose of introducing funds to determine the price and lock-up period of private placement.

At present, it is common for listed companies to issue additional shares and introduce funds and other institutions, with a fixed price of 7-8 fold and a lock-up period of one year.

There are not many ways to increase the social security fund like CITIC Securities, and the discount rate is very high, which is basically 50% off and the lock-up period is 3 years.