Dalian My Gym Education Technology Co., Ltd. (SZSE:002621) announced a private placement of not more than 118,176,298 A shares for gross proceeds not exceeding CNY 1,650,000,000 on September 6, 2019. The transaction will include participation from returning investor Zhuhai Rongcheng Investment Center (Limited Partnership), and individual investors Helen Huo Luo and Liu Junjun, Director and General Manager of the company. The company will issue the shares at a price which is the average price of the company's stock trading for the 20 trading days before the first day of the issue date. The shares to be issued will not be more than 20% of the total share capital of the company prior to the transaction. All the securities to be issued in the transaction will be subject to a hold period of 36 months from the date of closing. The transaction has been approved in the ninth meeting of the fifth directorate of the company, and is subject to shareholders' approval in its general meeting.