Phong Phu Pharmaceutical Joint Stock Company (HNX:PPP) announced a private placement of 2,000,000 common shares at a price of VND 10,000 per share for gross proceeds of VND 20,000,000,000 on July 4, 2018. The shares to be issued in the transaction are subject to a lock-up period of one year from the date of closing. The transaction is expected to close between 3rd and 4th quarter of 2018. The transaction has been approved by the board of directors of the company.