Hunan Valin Steel Co.,Ltd. (SZSE:000932) announced a private placement of up to 927,152,317 shares at CNY 4.53 per share for gross proceeds of up to CNY 4,199,999,996.01 on July 13, 2015. The transaction will include participation from ten designated investors. The transaction has been approved in the 25th meeting of 5th board of directors of the company.

The transaction is subject to shareholders' approval and government regulatory approval.