On July 5, 2019, Guangxi Nanning Waterworks Co., Ltd. (SHSE:601368) closed the transaction. The company issued 147,162,179 shares at issue price of CNY 5.52 per share for gross proceeds of CNY 812,335,228.08. The transaction included participation from returning investor Nanning Jianning Water Investment Group Co., Ltd. for 22,688,100 shares, China Huarong Asset Management Co., Ltd., Investment Arm for 27,173,913 shares, Guangxi Shangshan Ruoshui Development Co., Ltd. for 52,010,311 shares and Guangxi Honggui Capital Operation Group Co.,Ltd. for 45,289,855 shares. The shares have face value of CNY 1. The shares of Nanning Jianning Water Investment Group Co., Ltd. are subject to a hold period of 36 months and a hold period of 12 months for other investors. The company incurred expenses of CNY 12,679,422.09 and received net proceeds of CNY 799,655,805.99.