Nanjing Iron & Steel Co., Ltd. (SHSE:600282) announced a private placement of up to 1,578,140,000 A shares at a price of CNY 2.87 per share for gross proceeds of up to CNY 4,529,261,800 on January 10, 2016. The transaction was approved at the 13th session of the 6th directorate of the company and is subject to shareholders' approval at the 1st Extraordinary General Meeting of 2016 to be held on January 28, 2016.