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CHINA GAS HOLDINGS LIMITED

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China Gas Holdings Plans to Raise US$1.49 Billion via Share Placement

04/21/2021 | 06:25pm EDT

By P.R. Venkat

China Gas Holdings is planning to raise 11.60 billion Hong Kong dollars (US$1.49 billion) in net proceeds through a share placement, proceeds of which will be used to fund business expansion.

The company will issue a total of 392 million shares at HK$29.75 each, which is a 9% discount to Wednesday's closing price, China Gas said Thursday.

"The company believes that it will be able to enrich its shareholder base by attracting a number of high calibre investors to participate in the placing," it said.

As part of the business development, China Gas intends to use the proceeds to acquire city gas projects in China and expand its liquefied petroleum gas microgrid business.

Goldman Sachs, UBS are among the banks advising China Gas for the share placement.

Write to P.R. Venkat at venkat.pr@wsj.com

(END) Dow Jones Newswires

04-21-21 2025ET

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More news
Financials
Sales 2021 64 986 M 8 369 M 8 369 M
Net income 2021 10 831 M 1 395 M 1 395 M
Net Debt 2021 31 074 M 4 002 M 4 002 M
P/E ratio 2021 13,6x
Yield 2021 2,11%
Capitalization 157 B 20 241 M 20 245 M
EV / Sales 2021 2,90x
EV / Sales 2022 2,37x
Nbr of Employees 59 462
Free-Float 42,7%
Chart CHINA GAS HOLDINGS LIMITED
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Technical analysis trends CHINA GAS HOLDINGS LIMITED
Short TermMid-TermLong Term
TrendsBearishNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 25
Average target price 35,57 HKD
Last Close Price 28,05 HKD
Spread / Highest target 53,3%
Spread / Average Target 26,8%
Spread / Lowest Target -31,6%
EPS Revisions
Managers and Directors
NameTitle
Ming Hui Liu Executive Chairman, President & Managing Director
Yong Huang Executive President & Executive Director
Erwan Mao Independent Non-Executive Director
Yu Hua Zhao Independent Non-Executive Director
Yan Yan Chen Independent Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
CHINA GAS HOLDINGS LIMITED-8.93%20 241
NATURGY ENERGY GROUP, S.A.13.29%25 086
ATMOS ENERGY CORPORATION7.93%13 459
TOKYO GAS CO.,LTD.-2.60%9 434
APA GROUP2.28%9 139
GAIL INDIA LIMITED21.91%9 107