Zhuhai Hokai Medical Instruments Co., Ltd. (SZSE:300273) announced a private placement to issue not more than 237,706,264 shares for gross proceeds of not more than CNY 650,000,000 on May 30, 2021. The round will see participation from not more than 35 investors and each investor can subscribe to a maximum of 120,000,000 shares. The issue price is not less than 80% of the average price of the company’s stock during the 20 trading days prior to the pricing base date. The shares issued in the transaction is subject to a lock up period of 6 months from the closing date. The transaction has been approved by the board of directors of the company at the 27th Meeting of the 5th directorate and is subject to approval from shareholders of the company, the Shenzhen Stock Exchange and the China Securities Regulatory Commission.