Jiangsu Olive Sensors High-Tech Co., Ltd. (SZSE:300507) announced a private placement to issue not more than 66,025,800 shares for gross proceeds of not more than CNY 850,000,000 on April 27, 2020. The transaction will include participation from not more than 35 investors. The shares cannot be transferred within 6 months from the issuance closing date.

The transaction has been approved at the fourth meeting of the company's fourth directorate and is subject to approvals of the shareholders meeting and the China Securities Regulatory Commission.