Shandong Weigao Orthopedic Device Co., Ltd. announced a private placement of 118,929,633 common A shares at CNY 10.09 per share for gross proceeds of CNY 1,199,999,996.97 on June 14, 2016. Returning investor Shandong Weigao Group Medical Polymer Co., Limited (SEHK:1066), Yang Zhijun, Dong Rong, Guo Yong, and Xiang Xiaojing will subscribe 29,732,411 shares, 25,272,547 shares, 12,388,503 shares, 6,937,561 shares, and 2,973,240 shares, respectively. Liu Xiaohang, Xu Xiaojing, and Xu Zhuo will subscribe 3,964,321 shares, each. Wu Liang and Chi Fa'an will subscribe 14,866,204 shares, each. The transaction was approved at the 21st session of its 3rd directorate of the company along with directorate approval from Shandong Weigao Group Medical Polymer Co., Limited (SEHK:1066).

The transaction is subject to company's shareholders approval and the relevant Peoples' Republic of China government authority approval including the approval of China Securities Regulatory Commission.