Shanghai Anoky Group Co., Ltd. (SZSE:300067) announced a private placement of not more than 279,149,781 shares representing 30% stake for gross proceeds of not more than CNY 450,000,000 on April 1, 2020. The transaction will include participation from not more than 35 specific investors. The shares will be subject to a lock-up period of 6 months from the date of the issuance.

The issue price will be not be lower than 80% of the median market price of the company's shares as of 20 previous days of issuance date. The transaction has been approved in the 25th meeting of the 4th directorate of the company and is still subject to the approval of stockholders of the company at its 1st extraordinary general meeting to be held on April 16, 2020 and the China Securities Regulatory Commission.