On January 16, 2017, Wanhua Chemical Group Co., Ltd. (SHSE:600309) closed the transaction. The company further amended the terms of the transaction and issued 116,009,280 A shares at a price of CNY 21.55 per share for gross proceeds of CNY 2,499,999,984. The transaction included participation from nine investors including Shanghai Lulian Junhe Industrial Equity M&A Investment Fund Partnership Enterprise (LP), China Huarong Asset Management Co., Ltd., Investment Arm, and HuaAn Future Asset Management (Shanghai) Co., Ltd. for CNY 499,999,996.80, CNY 399,999,980.20, and CNY 329,997,089.50 respectively. The company incurred underwriting fee of CNY 37,735,849.06 and other issuance related fees of CNY 1,839,622.64 in the transaction. Post the closing, the number of issued shares increased from 2,162,334,720 to 2,278,344,000. The shares are subject to a lock up period of 12 months from the closing.