Guangdong Taiantang Pharmaceutical Co., Ltd. (SZSE:002433) announced a private placement of not more than 230,031,960 A shares for gross proceeds of not more than CNY 900,000,000 on May 28, 2020. The issue price is not less than 80% of the average price in the 20 trading days before the pricing reference date. The transaction will include participation from not more than 35 investors. The shares issued in the transaction cannot be transferred within 6 months from the issuance closing date. The transaction has been approved in the 13th meeting of the company's 5th directorate, and is subject to the approvals of the shareholders meeting and the China Securities Regulatory Commission.