Europol Intelligent Network Co., Ltd. (SZSE:002711) announced a private placement of not more than 211,200,000 A shares for gross proceeds of not more than CNY 1,241,495,600 on May 18, 2018. The shares will be issued to not more than 10 designated investors. The company’s controlling shareholder will not participate in the transaction. The shares issued will be subject to a hold period of 12 months from the issuance closing date. The transaction was approved at the company's 5th directorate in its 2nd meeting of 2018. The transaction is subject to approval of the company's shareholders and China Securities Regulatory Commission. Issue price for the shares to be issued shall not be lower than 90% of the average stock price 20 trading days before the pricing reference date which is the first day of issuance.