Rastar Group (SZSE:300043) announced a private placement of 60,810,809 shares at CNY 14.80 per share for gross proceeds of CNY 900,000,000 on December 22, 2014. The transaction will include participation from two individuals, a Shenzhen-based investment partnership, and a Xi'an-based investment partnership.

On January 6, 2015, the company announced that it has amended the terms of the transaction. The company will now issue 60,827,249 shares at CNY 12.33 per share for gross proceeds of CNY 749,999,980.17. The transaction will include participation from not more than five investors including Chen Chuanghuang, Cao Yibin, Shenzhen Huxing Baiguoyuan Investment Partnership (Limited Partnership), Xi'an Mouchuang Sipurun Enterprise Management Consultation Partnership (Limited Partnership) for 24,330,900 shares, 16,386,050 shares, 7,944,849 shares, and 12,165,450 shares respectively. The company and the investors entered into a conditional share subscription agreement on the same date. The transaction was approved at the 7th meeting of the 3rd board of directors and the 8th meeting of the 3rd board of directors of the company. The transaction is further subject to another approval of the board of directors of the company, the shareholders meeting of the company, and the China Securities Regulatory Commission. The shares issued as part of the transaction are subject to a hold period of 36 months from the date of issue.

On March 16, 2015, the company announced that the transaction was approved at its 10th session of the 3rd directorate meeting.

On March 31, 2015, the transaction was approved at the 1st Extra Ordinary General Meeting of the company.

On April 30, 2015, the company amended the terms of the transaction. The company will now issue 134,892,086 shares at a price of CNY 5.56 per share for gross proceeds of CNY 749,999,998.16.

On January 6, 2016, Rastar Group cancelled the transaction.