Market Overview

China Natural Gas Spiking over 10% Higher after Trade Resumption and Privatization Deal


Mr. Qinan Ji, Chairman and Chief Executive Officer of China Natural Gas,(Nasdaq: CHNG) announced today that he entered into an exclusivity agreement with a consortium backed by Themes Investment Partners, a China-focused private equity firm. Mr. Ji informed the Special Committee of the Board of Directors of the Company that he intended to work together with the consortium to formulate a proposal to acquire all of the outstanding shares of common stock of China Natural Gas he and his affiliates do not currently own through a going private transaction at a proposed price of $4.25 per share in cash. Mr. Ji, directly and indirectly, currently beneficially owns approximately 13.99% of the Company's common stock.

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Posted-In: News Movers


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