Shenzhen Forms Syntron Information Co., Ltd. (SZSE:300468) announced a private placement of not more than 84,989,666 shares for gross proceeds of not more than CNY 1,000,000,000 on August 17, 2020. The issue price shall not be less than 80% of the average stock trading price of the company on the 20 trading days before the pricing base day. The transaction will include participation from not more than 35 investors.

The transaction has been approved in the 19th meeting of the third board of directors of the company and is subject to approval from company's shareholders meeting, Shenzhen Stock Exchange and China Securities Regulatory Commission. All securities issued in the transaction have a hold period of 6 months.