On September 19, 2016, Shandong Chenming Paper Holdings Limited (SZSE:200488) closed the transaction. The company announced that has issued 12,500,000 preferred shares for CNY 1,250,000,000 in third tranche in this transaction. The transaction included participation from Bank of Communications International Trust Co., Ltd. for 640,000,000 shares and Beijing Yiben Zhongxing Investment Management Co., Ltd. for 610,000,000 shares. The net proceeds of this tranche will be CNY 1,243,750,000 including sponsoring and underwriting fees of CNY 1,250,000 and unpaid issuance expenses of CNY 5,000,000. The lead underwriter will underwrite the preferred shares and the underwriting period is from September 13, 2016 to September 23, 2016.

Zhongtai Securities Co., Ltd. acted as lead underwriter, King & Wood Mallesons, China acted as legal advisor, and Ruihua Certified Public Accountants, LLP acted as certified public accountant to the company.