CECEP Wind-power Corporation Co. Ltd. (SHSE:601016) announced a private placement of not more than 831,112,000 A shares for gross proceeds of CNY 2,800,000,000 on May 14, 2019. The shares will be issued at a price not lower than 90% of the total issued share capital of 20 previous days to the issue date. The transaction will involve participation from not more than 10 specific investors including existing investor China Energy Conservation and Environmental Protection Group Co., Ltd. for 10% of the gross proceeds. The subscribers will not transfer the shares to be subscribed on the transaction for 12 months from date of issuance. The transaction was approved at its 29th meeting of the 3rd directorate and is subject to approval from the shareholders of the company and China Securities Regulatory Commission.