Jason Furniture Investment Management Co., Ltd announced a private placement of AUD 78,000,000 on March 27, 2018. The transaction will involve participation from existing investor, Jason Furniture (Hangzhou) Co.,Ltd. (SHSE:603816); who will retain its 100% stake in the company. The company will issue common stock in the transaction. The transaction has been approved in the 6th meeting of the 3rd directorate of the investor. The transaction still needs approval from the respective Chinese government department.