DMG Entertainment and Media Co., Ltd. (SZSE:002143) announced a private placement of not more than 79,365,075 A shares at a price of CNY 31.5 per share for gross proceeds of CNY 2,499,999,862.5 on December 31, 2015. The transaction will include participation from five designated investors. The transaction has been approved at its 14th meeting of the 5th directorate and is subject to stockholders' and China Securities Regulatory Commission approval.

The shares cannot be transferred within 36 months from the issuance closing date.