GAIL, the state-run gas company, had offered to sell USD65 million worth of stocks in China Gas Holdings Ltd. The sale would be made through block trades according to a term sheet as seen by Reuters. The price range would be between HKD8.20 to HKD8.30 per share according to the term sheet.
Last October 11, 2013. GAIL India share values closed at INR336.05, an increase of INR4.80 or 1.45%. The highest value achieved by the share in 52 weeks was at INR395.00 while its lowest value for the same period was at INR273.00.
GAIL made the investment back in 2005 through a INR137 crore purchase of 210 million shares of China Gas. The board had approved the partial divestment but retained a small portion to maintain its board seat in China Gas.
As of late, China Gas shares have been performing well at the Hong Kong Stock Exchange reaching a market capitalization estimated at USD4.4 billion.
Join the Conversation