Jiangsu Dewei Advanced Materials Co., Ltd. (SZSE:300325) announced a private placement of not more than 201,148,617 common shares for gross proceeds of not more than CNY 1,000,000,000 on May 2, 2018. The transaction will include participation from not more than 5 investors. The shares are subject to a lock in period of 12 months. The transaction has been approved from board of directors at 6th meeting of the company's 6th directorate. The transaction is subject to approval from shareholders of the company and approval from China Securities Regulatory Commission.