Ledman Optoelectronic Co., Ltd. (SZSE:300162) announced a private placement of more than CNY 69,902,006 A shares for gross proceeds of not more than CNY 342,900,000 on April 18, 2018. Issue price shall not go lower than 90% of the average price of the company’s stock 20 trading days prior to the first day of issuance. The transaction will include participation from not more than 5 qualified specific investors. The securities being issued are subject to a lock in period of 12 months. The transaction was approved by the board of directors of the company at the 26th session of the 3rd directorate meeting. The transaction is subject to approval by the shareholders of the company and the China Securities Regulatory Commission.