Anhui Fuhuang Steel Structure Co., Ltd. (SZSE:002743) announced a private placement of not more than 100,897,764 shares for gross proceeds of not more than CNY 655,000,000 on April 14, 2020. The transaction will include participation from 35 specific investors including existing investor Anhui Fuhuang Construction Co., Ltd. The company has signed an agreement with Anhui Fuhuang Construction Co., Ltd. The company will issue shares at a price not lower than 80% of the median market price as of 20 previous days to issuance date. All shares subscribed by Anhui Fuhuang Construction Co., Ltd. will be subject to hold period of 18 months and all shares subscribed by other investors will be subject to a lock-up period of 6 months. The transaction has been approved by the 41st meeting of 5th directorate of the company, and is subject to approval of shareholders of the company and China Securities Regulatory Commission. The transaction is valid for 12 months from shareholders' approval.