China Gas Industry (1940 HK): Possible Privatisation From HBIS
China Gas Industry Investment (1940 HK) (CGI), an industrial gas supplier in the Beijing-Tianjin-Hebei region, is suspended pursuant to the Takeovers Code.
35.99% of CGI is held by PRC steel-play HBIS Group, and one of CGI’s primary customer. 39.01% is jointly held by Bank Of China (3988 HK) (60%) and Temasek (40%).
CGI was in the news for all the wrong reasons in 2021/2022, due to the misappropriation of IPO proceeds. Nonetheless, underlying ops have been tonking along. Pricing is full here.
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