Fujian Start Group Co.Ltd (SHSE:600734) announced a private placement of not more than 124,474,463 shares for a gross proceeds of not more than CNY 1,300 million on June 19, 2019. The issue price will not be lower than 90% of the median market price of its shares as of 20 previous days to issuance date. The transaction will include participation from Zhengzhou Airport Port Xingchuang Electronic Technology Co., Ltd. The shares will have a face value of CNY 1 per share. The transaction received approval from board of directors of the company in its 34th meeting of the 9th directorate, from the shareholders of the company in its shareholders meeting and is subject to the approval of state-owned assets supervision department or its authorized unit and China Securities Regulatory Commission. The shares have a lock up period of 36 months from the date of issuance. The terms of the transaction will be valid for 12 months from the date if approval from the shareholders’ meeting. On July 9, 2019, the company announced that it will hold 2nd special shareholders meeting on July 25, 2019, to discuss the issuance of shares.