CR Gas stock dives on HK$3.7bn placement

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By Jonathan Breen
12 May 2020

China Resources Gas Group's stock price dropped by nearly 7% on Tuesday, following an equity fundraising the day before.

The company raised HK$3.67bn ($473.9m) from a top-up placement on Monday evening. It sold 90m secondary shares in the deal, which placing agent Goldman Sachs marketed after trading hours in an accelerated bookbuilding exercise. The stock represents 3.89% of CR Gas's enlarged share capital.

The final price was ...

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