Zhonghe Co., Ltd. (SZSE:002070) announced a private placement of 78,057,240 A shares at CNY 11.53 per share for gross proceeds of CNY 899,999,977.2 on November 19, 2015. Putian Huijin Trade Co., Ltd. will subscribe 31,222,896 shares to acquire 3.9% stake in the company. Zan Aijun, Deng Yan, Jiang Tao, Xiamen Jianji Capital Management Co., Ltd., Bosera Asset Management Co., Ltd., and China Life Insurance Assets Management Co.

Ltd. each will subscribe 7,805,724 shares. The transaction was approved at 11th session of its 5th directorate. The transaction is subject another directorate approval, shareholders' approval, and the approval from the Merger, Acquisition and Reorganization Examination Committee of Listed Companies of the China Securities Regulatory Commission.

The company will pay CNY 50,000,000 as transaction related fees.