Mango Excellent Media Co., Ltd. (SZSE:300413) announced a private placement of A shares for gross proceeds of CNY 2,000,000,000 on September 29, 2017. The transaction will include participation from not more than five specific investors. The issue price of shares price shall not be lower than the average stock price of the company for the day prior to the first date of the issuance or will be lower than the average stock price of the company for 20 days prior to the first date of the issuance but shall not be lower than 90% of it or issuance will be lower than the average stock price of the company for the day prior to the first date of the issuance but shall not be lower than 90% of it. The shares issued shall not be transferrable within 12 months from the date of issuance. The transaction has been approved by the Hunan Provincial Finance Department and Hunan Provincial Culture Asset Committee in principle and the company’s 4th session of the 3rd directorate. The transaction is subject to approval from Hunan Provincial Finance Department and Hunan Provincial Culture Asset Committee.