China's piped-gas provider Zhongyu hits 4-1/2 mths high on acquisition plan

Zhongyu Energy Holdings

23/01/2019 03:04

** Shares of Zhongyu Gas Holdings Ltd  3633.HK  rise as much
as 4.4 pct to HK$8.26, the highest since Sept. 10, after the
piped-gas distributor plans acquisition to expand markets    
    ** Co has agreed to buy two gas companies for 462.2 mln yuan
($68 mln) as it speeds up acquisition to expand into markets
adjacent to its existing operating regions in Henan Province
 urn:newsml:reuters.com:*:nFWN1ZM0K0
    ** The two gas companies have been granted exclusive right
to invest, build and operate piped gas business and provide the
ancillary services in Mengzhou City and Wen County for a period
of 30 years and 27 years ending in 2035 and 2039, respectively
    ** Zhongyu Gas has outperformed the Hang Seng Commerce &
Industry Index sector  .HSNC  by 30.7 percentage points in the
past one month
    ** The Hong Kong Hang Seng Commerce & Industry Index  .HSNC 
rises 0.4 pct, and the Hang Seng China enterprises index  .HSCE 
climbs 0.6 pct
    
($1 = 6.7991 Chinese yuan renminbi)

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