TCL China Star Optoelectronics Technology Co., Ltd announced a private placement of 3,220,611,916 common shares at a price of CNY 1.5525 per share for the gross proceeds of CNY 5,000,000,000 on May 21, 2021. The transaction will include participation from existing investor TCL Technology Group Corporation (SZSE:000100). Post completion of transaction, the investor will own 83.02% stakes in the company from 81.02% stakes and will subscribe for CNY 3,220,611,916.26 of registered capital of the company and remaining CNY 1,779,388,084.74 will be added to capital reserve. The transaction has been approved at 8th session of the company’s 7th directorate.