Suzhou TFC Optical Communication Co., Ltd. (SZSE:300394) announced a private placement of not more than 30,000,000 A shares at CNY 23.933333 for gross proceeds of not more than CNY 718,000,000 on January 23, 2017. The transaction will include participation from not more than five specific investors. The securities issued are subject to hold period if the shares are issued at a price less than the one-trading day average price of its stock before the first day the issuance can be listed for trading at the closing date of this issuance as well as the listing date of new shares or if the shares are issued at a price less than the 20-trading day average price of its stock before the first day of issuance but not lower than 90%, or less than the one-trading day average price of its stock before the first day of issuance but not lower than 90% will not be transferrable within 12 months from the closing date of this issuance as well as the listing date of new shares. The transaction has been approved by the board of directors of the company at its 19th session of the 2nd directorate. The transaction is subject to shareholders’ approval at its 1st Extraordinary General Meeting of 2017 to be held on February 10, 2017 and the China Securities Regulatory Commission approval.