China Gas stock tumbles after $1.5bn top-up

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By Jonathan Breen
22 Apr 2021

China Gas Holdings fell by more than 11% on Thursday after it raised HK$11.66bn ($1.5bn) from the sale of new shares through a top-up placement.

Goldman Sachs and UBS, the global co-ordinators and placing agents, launched an accelerated bookbuild for the deal as Hong Kong’s stock market closed on Wednesday. The natural gas distributor was offering 392m shares, some 6.99% of its enlarged equity capital, at a tight range of HK$29.75 to HK$30.75, said ...

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