Zhuhai Hokai Medical Instruments Co., Ltd. (SZSE:300273) announced a private placement of 193,798,448 A shares at a price of CNY 5.16 per share for gross proceeds of CNY 999,999,991.68 on June 5, 2020. The transaction has been approved by the 12th meeting of the 5th board of directors. The transaction will include participation from four investors including Henan Lingchuang Medical Equipment Intelligent Technology Center, Zhuhai Huamei Health No.1 Investment Partnership (Limited Partnership), Zhuhai Hengqin Oxygen-Enriched Kunlun Investment Partnership, and fund to be established by Orient Huifu Investment Holdings Co., Ltd. who will subscribe for 48,449,612 shares for proceeds of CNY 250,000,000 each. The securities to be issued are subject to a 18 month hold period. The transaction is still subject to approval from company's shareholders' meeting and China Securities Regulatory Commission.