Will Semiconductor Co., Ltd. (SHSE:603501) announced a private placement of common shares for gross proceeds of no more than CNY 2,000,000,000 on August 14, 2018. The transaction will include participation from no more than 10 specific investors. Shares issued in a transaction are subject to a hold period of 12 months from the issuance completion and listing date. The transaction was approved by the board of directors of the company in its 27th session of the 4th directorate meeting. The transaction is still subject to the company convene another directorate meeting to review and approve the formal plan of this transaction after the completion of audit and appraisal works of the targets, the shareholders’ approval, the anti-monopoly bureau of the State Administration for Market Regulation approve the concentration of operators review, and the China Securities Regulatory Commission.