Bank of Hangzhou Co., Ltd. (SHSE:600926) announced a private placement of not more than 100,000,000 preferred shares at CNY 100 per share for gross proceeds of not more than CNY 10,000,000,000 on January 17, 2017. The transaction was approved at the 26th meeting of the 5th directorate of the company and is further subject to approval from its shareholders, China Banking Regulatory Commission Zhejiang Bureau, and the China Securities Regulatory Commission.