Suzhou Victory Precision Manufacture Co., Ltd. (SZSE:002426) announced a private placement of not more than 688,303,543 A common shares for gross proceeds of not more than CNY 2,000,000,000 on January 10, 2019. The transaction will involve participation from not more than 10 specific investors. The issue volume will not exceed 20% of the company’s total capital prior to issuance. The shares issued will have a hold period of 12 months from the date of issuance. The transaction has been approved by the 18th session of the company’s 4th directorate, and still needs to be approved by the company’s shareholders’ meeting and China Securities Regulatory Commission.