Titan Wind Energy (Suzhou) Co., Ltd. (SZSE:002531) announced a private placement of maximum of 136,054,400 A shares at no less than CNY 14.70 per share for gross proceeds of CNY 1,999,999,680 on June 23, 2015. The transaction will include participation from not more than ten designated investors. The transaction has been approved in the 2015 9th Extraordinary Meeting of the 2nd Directorate.

The transaction is subject to approval from its shareholders and China Securities Regulatory Commission. The shares issued will be subject to a hold period of 12 months from the date of issue.