Ledman Optoelectronic Co., Ltd. (SZSE:300162) announced a private placement of not more than 104,853,009 common shares of par value CNY 1 per share, for gross proceeds of not more than CNY 380,000,000 on April 23, 2020. The company will issue shares at a price not less than 80% of the average price of the company's stocks 20 trading days before the first day of the issue period. The transaction will include participation from not more than 35 investors. All securities to be issued in the transaction will be subject to a lock-up period of 6 months. The transaction has been approved in the 10th meeting of the 4th directorate of the company, and still needs approval in the general meeting of shareholders, and China Securities Regulatory Commission. The resolution of the transaction is valid for 12 months from the date of approval by the company's shareholders meeting.