Hunan Mendale Hometextile Co.,Ltd (SZSE:0023 announced a private placement of not more than 100,000,000 shares for gross proceeds of not more than CNY 500,000,000 on February 9, 2021. The par value of shares is CNY 1 per share. The issue price is not less than 80% of the average price of the company's stocks 20 trading days before the first day of the issue period. The transaction will include participation from not more than 35 investors. All securities issued in the transaction have a hold period of 6 months. The transaction has been approved in the 17th meeting of the 5th directorate and is subject to approval of shareholders meeting and the China Securities Regulatory Commission.