Wuxi Longsheng Technology Co., Ltd (SZSE:300680) announced a private placement of A shares for gross proceeds of not more than CNY 116,000,000 on January 19, 2018. The transaction will include participation from not more than five investors. The transaction has been approved by the directorate of the company. The transaction is subject to shareholders’ approval and approval from China Securities Regulatory Commission. In February, 2018, the company announced that it will issue not more than 13,600,000 A shares and must not be transferred within 12 months after the issuance completion date.