Yunda Holding Co., Ltd. (SZSE:002120) announced a private placement of up to 202,729,066 A shares for gross proceeds of up to CNY 4,517,214,900 on April 24, 2017. The transaction will include participation from not more than 10 specific investors. The issue price shall not go lower than 90% of the average price of the company’s shares 20 trading days prior to the first day of issuance. Shares being issued are subject to a hold period of 12 months from the issuance closing date. The transaction was approved at its 6th session of the 6th supervisory board meeting and its 6th session of the 6th directorate meeting. The transaction is further subject to the approval of shareholders at its 4th extraordinary general meeting of 2017 to be held on May 15, 2017 and the approval of the China Securities Regulatory Commission.