Hunan China Sun Pharmaceutical Machinery Co., Ltd (SZSE:300216) announced a private placement of not more than 100,832,281 common A shares at CNY 39.65 per share for gross proceeds of up to CNY 3,997,999,941.65 on October 13, 2015. The transaction will include participation from Changsha Huafukang Investment Co., ltd. for 55,485,498 shares for proceeds of CNY 2,199,999,995.7, Changsha Junqing Investment Co., Ltd. for 20,126,103 shares for proceeds of CNY 797,999,983.95, Junxin Yingtai Zhiguang No. 1 Securities Investment Fund to be established by Guangdong Junxin Yingtai Investment Management Co., Ltd. for 2,522,068 shares for proceeds of CNY 99,999,996.2, and assets management Plan to be established by China Fund Management Co., Ltd. for 22,698,612 shares for proceeds of CNY 899,999,965.8. The shares to be issued will have a lock up period of 36 months from issuance.

The transaction has been approved at the company's 11st session of the 5th directorate. The transaction is subject to company's shareholders' approval and approval from China Securities Regulatory Commission. After approval by China Securities Regulatory Commission, the company shall apply for approval from Shenzhen Stock Exchange and China Securities Depository and Clearing Co., Ltd. Shenzhen Branch.