Towngas China to tap into renewed share market heat

Towngas China, a mainland unit of Hong Kong and China Gas, is planning to raise US$122 million in a share placement as investors continue to push Hong Kong stocks higher in the first few sessions of 2013.

According to a term sheet obtained by the South China Morning Post, Towngas China, which is involved in sales and distribution of piped gas on the mainland, is offering 150 million new shares and has set at an indicative price range between HK$6.24 and HK$6.31 per share, a discount of 6.9 to 8 per cent before the midday closing price of HK$6.78 yesterday.

via Business feed http://www.scmp.com/business/companies/article/1124248/towngas-china-tap-renewed-share-market-heat