Sichuan Guodong Construction Co.,Ltd. (SHSE:600321) announced a private placement of not more than 350,000,000 A shares at not less than CNY 2.44 per share for gross proceeds of not more than CNY 700,000,000 on January 9, 2013. The shares subscribed will have a lock-up period of 12 months after the end of the issuance. The company will receive the net proceeds of CNY 660,000,000 after deducting the issuance expenses. The transaction was approved at the company's 19th session of the 7th directorate meeting and 10th session of the 7th board of supervisors meeting. The transaction is still subject to the approval from the company's stockholders' and China Securities Regulatory Commission.

On January 25, 2013, the company announced that not more than 10 specific investors will invest in the transaction. The transaction was approved at the company's first special shareholders' meeting for 2013.