China Gas shares sink by 11.9pc

Shares in China Gas Holdings have slumped further today in Hong Kong.

The stock has dropped to HK$28.80, sliding by 11.93 percent.

China Gas said it will sell HK$11.66 billion worth of new shares at HK$29.75 per share to shareholders Beijing Enterprises Holdings and China Gas Group, to acquire city gas projects in China, and expand and develop liquefied petroleum gas and distribution heating businesses. It will sell 392 million new shares.