Hoshine Silicon Industry Co., Ltd. (SHSE:603260) announced a private placement of not more than 132,415,254 shares to be issued at a price of CNY 18.88 per share for gross proceeds of not more than CNY 2,499,999,996 on May 18, 2020. The transaction will include participation from existing investors Luo Yi and Luo Yedong for CNY 1,250,000,000 each. The transaction has been approved by the shareholders of the company at the 14th meeting of the second board of supervisors and eighteenth meeting of the second board of directors of the company. The transaction is subject to approval from company's shareholders' meeting and China Securities Regulatory Commission. The securities to be issued in the transaction will be subject to a 18 month hold period.