Bank of Shizuishan Co., Ltd. announced a private placement of 224,460,000 common shares at a price of CNY 4.5 per share for gross proceeds of CNY 1,010,070,000 on January 19, 2018. The transaction will include participation from Guangdong Homa Appliances Co., Ltd. (SZSE:002668) for not more than 60,681,600 shares and other investors. Post the closing, Guangdong Homa Appliances Co., Ltd. (SZSE:002668) will hold 4.88% stake in the company. Following the closing, the company’s issued shares will increase from 1,020,000,000 to 1,244,460,000. The transaction was approved at the 4th meeting of its 4th directorate by the board of directors of the investor.