Northcom Telecommunication Company Limited announced a private placement of shares of gross proceeds of CNY 1,423,000,000 with returning investor Northcom Group Co., Ltd. (SZSE:002359) on June 12, 2017. The transaction has been approved at the 15th session of the 4th meeting of the board of directors of the investor. The amount of CNY 1,400,000,000 will go to registered capital of the company and CNY 23,000,000 will go to capital reserve.