HK-listed China Gas falls most in over 4-1/2 yrs on discounted share sale

Beijing Enterprises Holdings

22/04/2021 02:55

** Shares of China Gas Holdings Ltd  0384.HK  fall as much
as 10.4% to HK$29.30, their lowest since March 15, after co
plans sale of HK$11.66 bln ($1.50 bln) worth of new shares to
major shareholders, raising capital for gas projects and
expansion
    ** Stock last down 9.9%, on course for the worst session
since September 2016; the most actively traded shares by
turnover and the third biggest percentage decliner on the Hong
Kong bourse
    ** The gas services provider has agreed to sell 392 million
new shares to shareholders Beijing Enterprises Holdings Ltd
 0392.HK  and China Gas Group Ltd at HK$29.75 apiece, or a 9%
discount to Wednesday's close  urn:newsml:reuters.com:*:nL1N2MF01R
    ** Says the shareholders will buy the new shares on
completion of sales of the same amount of existing shares at the
same price to third party investors
    ** The Hang Seng China enterprises index  .HSCE  climbs 0.4%
and the benchmark index  .HSI  gains 0.5%
    ** As of the previous close, the shares had risen 6.2% this
year

 (Reuters Messaging: donny.kwok.thomsonreuters.com@reuters.net)