Shenzhen Deren Electronic Co., Ltd. (SZSE:002055) announced a private placement of not more than 15,207,409 A shares at not less than CNY 28.88 per share for gross proceeds of CNY 439,189,971.92 on December 29, 2016. The transaction was approved at the company’s 13th session of the 5th directorate, and 14th session of the 5th directorate. The transaction is subject to the approval of its shareholders and the approval of the China Securities Regulatory Commission.