Jonjee Hi-Tech Industrial & Commercial Holding Co Ltd (SHSE:600872) announced a private placement of up to 300,802,139 shares at CNY 14.96 per share for gross proceeds of up to CNY 4,499,999,999.44 on September 6, 2015. The transaction will include participation from Zhongshan Fujun Investment Co., Ltd. for 77,765,129 shares, Zhongshan Chongguang Investment Co., Ltd. for 75,117,805 shares, Zhongshan Runtian Investment Co., Ltd. for 73,904,449 shares, and Zhongshan Yuanjin Investment Co., Ltd. for 74,014,756 shares. The transaction has been approved at 10th session of the 8th directorate meeting.

The shares issued will be subject to a hold period of 36 months from the date of issue. The transaction is subject to the approval of the Guangdong State-owned Assets Supervision and Administration Commission, company's shareholders, and the China Securities Regulatory Commission.