Topchoice Medical Investment Co., Inc. (SHSE:600763) announced a private placement of not more than 47,058,824 shares at a price of not less than CNY 29.75 per share for the gross proceeds of not more than CNY 1,400,000,000 on January 3, 2017. On the same day the transaction has been approved in 28th meeting of the 7th directorate and is subject to approval of its shareholders and China Securities Regulatory Commission. The transaction includes participation from Lv Jianming, Lu Zhaoxi, Caitong Securities Assets Management Co., Ltd.-Topchoice Medical Investment Co., Inc. No. 1 Directional Add-issuance Asset Management Plan, Zhuji Topchoice Growth No. 1 Equity Investment Partnership Enterprise (Limited Partnership), and Beijing Taisheng Hongming Investment Center (Limited Partnership) a fund managed by Beijing Taisheng Investment Management Co., Ltd. The shares cannot be transferred within 36 months from the date of listing.