Changsha Jingmei Integrated Circuit Design Co., Ltd. announced a private placement of common shares for gross proceeds of CNY 979,667,464.48 on January 23, 2019. The transaction will include participation from existing investor Changsha Jingjia Microelectronics Co., Ltd. (SZSE:300474). The transaction has been approved at the 8th meeting of the 3rd directorate of the investor. On closing, the investor will retain its stake of 100% in the company. The company has a registered capital of CNY 20,000,000.