China Gas plans $1.5b share sale for new gas projects, business development
FILE PHOTO: Gas storage facilities owned by China Gas Holdings are seen at a refueling station for ships in Chongqing, China December 12, 2017. REUTERS/Chen Aizhu
April 22, 2021
China Gas Holdings Ltd plans the sale of HK$11.66 billion ($1.50 billion) worth of new shares to major shareholders, to raise capital for gas projects and expansion.
It plans to acquire city gas projects in China, and expand and develop liquefied petroleum gas and distribution heating businesses.
The gas services provider has agreed to sell 392 million new shares, or 6.99% of the enlarged share capital, to shareholders Beijing Enterprises Holdings Ltd and China Gas Group Ltd, it said in a filing to the Hong Kong bourse on Thursday.