China Resources Wandong Medical Equipment Co., Ltd (SHSE:600055) announced a private placement of not more than 21,000,000 shares at CNY 7.60 per share for gross proceeds of CNY 159,600,000 to existing investor, Beijing Pharmaceutical Group Co., Ltd. on December 28, 2012. The shares to be subscribed by the investor will have a lock-up period of 36 months from the end of the issuance. The transaction was approved at the 4th session of the 6th directorate meeting.

The issuance requires the approval of the State-owned Assets Supervision and Administration Commission, company's stockholders, and China Securities Regulatory Commission.