{ "market" : {"NAME" : "U.S.", "ID" : "us_market", "TZ" : "ET", "TZOFFSET" : "-18000", "open" : "1259159442", "close" : "1259182842", "flags" : {}} , "STREAMER_SERVER" : "http://streamerapi.finance.yahoo.com","arrowAsChangeSign" : false,"throttleInterval": "1000"}
ap

China Natural Gas sells another 859,000 shares

China Natural Gas exercises option to sell another 859,000 shares at $8.75 each

  • On 9:25 am EDT, Monday September 21, 2009

NEW YORK (AP) -- China Natural Gas Inc. said Monday it has sold another 858,750 shares of common stock under an overallotment option related to its stock offering earlier this month.

The company said it sold the shares for $8.75 each, bringing the total proceeds from its stock offering to $54.7 million.

It will use the proceeds for the construction of its liquefied natural gas facility, the acquisition of eight fueling stations, the purchase of eight transport trucks and the establishment of a joint venture with China National Petroleum Corporation Kunlun Natural Gas Co.

Roth Capital Partners LLC was the sole book runner for the offering. Simmons & Co. was the co-manager.

Shares of China Natural Gas closed Friday $11.21.

Related Headlines

Related Blog Headlines

Top Stories

Related Message Boards

Sponsored Links

Copyright © 2009 The Associated Press. All rights reserved. The information contained in the AP News report may not be published, broadcast, rewritten, or redistributed without the prior written authority of The Associated Press.