On August 31, 2020, Koal Software Co., Ltd. (SHSE:603232) closed the transaction. The comp[any amended the terms of the transaction. The company issued 20,901,134 shares at an issue price of CNY 30.85 per share for CNY 644,799,984.

The transaction included participation from E Fund Management Co., Ltd. for CNY 148,999,977.85, Caitong Fund Management Co., Ltd. for CNY 70,699,993.60, Harvest Fund Management Co., Ltd., CNY for 64,499,976.85 and individual investor Ling Chao for CNY 19,999,993.30. All issued shares will have a lock up period of 12 months since issuance date. The company paid issuance costs of CNY 8,844,116.58 brining the net proceeds to CNY 635,955,867.32.

Of the total proceeds, CNY 20,901,134.00 is included in the registered capital and CNY 615,054,733.32 in reserve. The company completed its registration and custody procedures of the shares at the Shanghai Branch of China Securities Depository and Clearing Corporation Limited.