Jiangsu Dewei Advanced Materials Co., Ltd. (SZSE:300325) announced a private placement of not more than 300,321,715 A shares for gross proceeds of not more than CNY 700,000,000 on April 16, 2020. The transaction will include participation from not more than 35 specific investors. The transaction has been approved by the 36th interim meeting of the 6th board of directors of the company, and is still subject to approval by the shareholders in a general meeting. The shares are subject to a lock in period of 6 months from the issuance. The transaction is valid for 12 months since approval from the shareholders’ meeting