On February 12, 2018, Spring Airlines Co., Ltd. (SHSE:601021) closed the transaction. The company issued 116,317,713 A shares at a price of CNY 30.09 per share for gross proceeds of CNY 3,499,999,984.17. The transaction included participation from Nuode Asset Management Co,. Ltd. for 24,925,224 shares for CNY 749,999,990.16, Minsheng Royal Fund Management Co., Ltd. for 23,263,542 shares for CNY 699,999,978.78, Caitong Fund Management Co., Ltd. for 20,571,618 shares for CNY 618,999,985.62, and other investors. The company has received net proceeds of CNY 3,456,998,449.22. The securities to be issued are subject to a hold period of 12 months. The registration procedures for the newly issued shares were completed at China Securities Depository and Clearing Co., Ltd. Shanghai Branch.