Guangdong Sky Dragon Printing Ink Group Co., Ltd. (SZSE:300063) announced a private placement of common shares on December 10, 2019. The transaction will include participation from not more than 5 designated investors. The company will not raise more than 20% of its issued share capital in the transaction. The issue price for the shares to be issued in the transaction shall not be lower than 90% of the average stock price 20 trading days before the pricing reference date or not lower than 90% of the average stock price 1 trading day before the pricing reference date. All securities issued in the transaction will have a lock-up period of 12 months. The transaction has been approved by the board of directors in its 8th meeting of the 5th directorate. The transaction is subject to approval from board of director's of the company, shareholders of the company and China Securities Regulatory Commission.