Rongzun International Holdings Group Ltd. has announced the completion of a private placement of existing shares by its controlling shareholder. A total of 372 million shares, representing 60% of the company's issued share capital, were placed to 12 independent investors at HK$0.446 per share. The placement was conducted through a placing agent, and all placees have confirmed their independence from the company. Under the terms of the agreement, no individual placee or group acting in concert will hold 30% or more of the company's shares upon completion, thereby avoiding the requirement for a mandatory general offer under local takeover regulations.