Jiangsu Transimage Technology Co., Ltd. (SZSE:002866) announced a private placement of not more than 49,555,078 A common shares for gross proceeds of not more than CNY 600,000,000 on August 6, 2019. The transaction will involve participation from not more than 10 specific investors. The issue volume will not exceed 20% of the company's total capital prior to issuance.

All securities issued in the transaction are subject to a hold period of 12 months after the issuance. The transaction has been approved by the 16th session of the company's 2nd directorate. The transaction is subject to approval of the company's shareholders' meeting and China Securities Regulatory Commission.