Wuxi Lead Intelligent Equipment Co.,Ltd. (SZSE:300450) announced a private placement of maximum of 19,600,000 A shares at a price of CNY 37.744898 per A share for gross proceeds of up to CNY 739,800,000.8 on May 24, 2016. The transaction will include participation from not more than 5 investors. The transaction has been approved in the 14th meeting of the 2nd directorate of the company. The transaction is subject to approval from shareholders of the company and China Securities Regulatory Commission. The securities are subject to lock up period of 12 months from the date of issue.