Chongqing Zhifei Biological Products Co.,Ltd. (SZSE:300122) announced a private placement of not more than 100,000,000 A shares at a price of CNY 23.5 per share for gross proceeds of not more than CNY 2,350,000,000 on April 24, 2017. The transaction will include participation from not more than five specific investors. The transaction has been approved at its 17th session of the 3rd directorate and is subject to approval from company’s shareholders and China Securities Regulatory Commission.