Dr. Peng Telecom & Media Group Co., Ltd. (SHSE:600804) announced that it has entered into conditional share subscription agreement for a private placement of not more than 302,571,860 A shares at CNY 19.83 per share for gross proceeds of up to CNY 6,000,000,000 on January 20, 2017. The transaction will include participation from existing investors Ever-Rising Group for 151,285,930 shares and Beijing Tonglingtong Telecommunications Technology Co., Ltd. for 151,285,930 shares. The transaction has been approved at 19th session of the 10th directorate meeting of the company. The shares will not be transferrable within 36 months from the closing date of this issuance. The transaction needs approvals from the shareholders’ meeting of the company and the China Regulatory Securities Commission.