Jul 13, 2012 07:29 PM

Company Founder, Fortune Oil Sell China Gas Shares

By intern staff reporter Dai Tian

Liu Minghui, founder of China Gas Holdings

(Beijing) – Liu Minghui, founder of China Gas Holdings Ltd., and energy company Fortune Oil Holdings Ltd. sold a 1.8 percent stake of China Gas for HK$ 4.03 per share.

The stocks were worth HK$ 320 million, Hong Kong Securities and Futures Commission said on July 11.

It was the first time Liu sold a stake in China Gas since state-run China Petrochemical Corp. (Sinopec) and privately held ENN Energy Service Co. Ltd. joined forces in a hostile takeover bid for China Gas in December 2011.

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