Wuhan Thalys Medical Technology Inc. (SHSE:603716) announced a private placement of A shares for gross proceeds of up to CNY 1,051,800,000 on January 21, 2017. The company and the investors entered into a share subscription agreement. The transaction will include participation from individual investor, Wen Wei and the company’s ESOP. The transaction was approved at the 11th session of the 2nd directorate meeting of the company. The transaction is subject to approval from the shareholders of the company at the annual general meeting of 2016. The shares issued will be subject to lock in period of 12 months.