China: Kunlun Raises USD 1.35 Billion to Develop its LNG Business

Kunlun Energy of China said it has raised HK$10.48 billion (US$1.35 billion) in a share placement on the Hong Kong Stock Exchange.

Kunlun Energy sold 800 million shares at HK$13.10 each.

The company said it intends to use the net proceeds of the share placement to further develop its LNG business through the implementation of its “Gas in Substitution of Oil” strategy.

[mappress]

LNG World News Staff, April 4, 2012; Image: Kunlun