22 February 2019

Ngai Lik to acquire gas distributor for HK$2.86 bln, filing says

Ngai Lik Industrial Holdings Ltd. (00332.HK) intends to acquire 100 percent stake in a Guizhou natural gas dealer, Union Honor Ltd (UHL), for HK$2.86 billion (US$369.10 million), according to a filing to the stock exchange late Monday. UHL is mainly engaged in distribution, sale, trading and transportation of natural gas. Ngai Lik will issue 2.79 billion consideration shares and 1.20 billion convertible preferred shares to UHL’s shareholders to pay for the deal. The shares are priced at 70 HK cents apiece. Ngai Lik shares resumed trading Tuesday morning.

– Contact HKEJ at [email protected]



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