Nantong Metalforming Equipment Co., Ltd. (SZSE:300280) announced a private placement of maximum of 67,970,000 common shares at a price of CNY 19.92 per share for gross proceeds of CNY 1,353,962,400 on January 23, 2016. The transaction will include participation from Xinyu Anmin Investment Center (Limited Partnership) for 31,000,000 shares, Xinyu Yuanshang Investment Management Center (Limited Partnership) for 21,890,000 shares, Dongguan Boyuan Dingzeng No. 1 Equity Investment Partnership (Limited Partnership) for 5,000,000 shares, and Shanghai Jiamo Investment Management Co., Ltd. for 10,080,000 shares.

The transaction has been approved at the 17th meeting of the 2nd board of directors of the company. The transaction is subject second approval of the board of directors of the company, the approval of the shareholders' meeting of the company, and the approval of the China Securities regulatory Commission.