Wingtech Technology Co.,Ltd (SHSE:600745) announced a private placement of not more than 337,210,112 common shares for gross proceeds of not more CNY 5,800,000,000 on April 24, 2020. The company will issue not more than 30% of total share capital, and the shares will be priced at not less than 80% of the average price in the 20 trading days before the pricing reference date. The transaction will involve participation from not more than 35 investors.

The shares issued in the transaction will have a hold period of six months from the date of issuance. The transaction has been approved by the board of directors of the company at the 11th meeting of its 10th supervisory board.