Cuu Long Petro Urban Development and Investment Corporation (HOSE:CCL) announced a private placement of 12,000,000 common shares at VND 10,000 per share for gross proceeds of VND 120,000,000,000 on October 30, 2017. The transaction will include participation from two board members of the company for 8,000,000 shares and two individual strategic investors for 4,000,000 shares. The transaction has been approved by the shareholders of the company. The shares issued have a restriction period of 12 months from the date of closing. The transaction is expected to close in the Q4 of 2017.