Guangdong Orient Zirconic Ind Sci & Tech Co., Ltd. (SZSE:002167) announced a private placement of up to 124,189,200 Class A shares for gross proceeds of up to CNY 1,138,710,900 on August 30, 2018. The lock up period of shares is 12 months since issuance date. The shares issuance is directed at not more than 10 specific investors. None of the participants can subscribe for more than 22,350,000 shares. The final issuance price will be decided in consultation with the lead underwriter after receiving approval from the China Securities Regulatory Commission. The transaction was approved at the 21st meeting of the 6th directorate of the company. The transaction is subject to approval from the company’s shareholders' meeting. The company will issue shares up to 20% of issued share capital. After issuance, total issued share capital should not exceed 745,135,200 shares.