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HONG KONG, Mar 5, 2018 - (Media OutReach) - Beijing Gas Blue Sky Holdings Limited ("the Company" or "BG Blue Sky", together with its subsidiaries, the "Group", HKSE stock code: 6828) is pleased to announce that PRISM ENERGY INTERNATIONAL PTE. LTD. ("PRISM"), a subsidiary of SK E&S Co., Ltd. ("SK E&S"), agreed to subscribe for BG Blue Sky's 2-year Convertible Bond in an aggregate principal amount of HK$180 million with interest of 2% per annum. The Conversion Price is initially HK$0.57 per Conversion Share. Assuming the Conversion Right is exercised in full, approximately 316 million Conversion Shares will be allotted and issued to the Investor, representing approximately 3.11% of the issued share capital of the Company as enlarged by the issue and allotment of the Conversion Shares.
PRISM is engaged in purchase and sale of LNG, and will play a pivotal role in helping SK E&S grow into a global energy company.
SK E&S is a fully integrated global LNG company involved in all parts of the LNG value chain including in upstream gas production, midstream LNG liquefaction, storage and regasification, and downstream power generation and city gas distribution. SK E&S aims to become a global leader in clean energy by continuing its expansion and investments in the LNG and renewables sectors.
SK E&S is a subsidiary of SK Holdings Co., Ltd., the major ultimate holding company of SK Group, Korea's third largest conglomerate. SK Group's businesses cover a diverse range of sectors including the energy, chemical, information and communication technology, and semiconductor sectors.
Mr. Tommy Cheng, Co-Chairman, Chief Executive Officer and Executive Director of the Group commented: "SK E&S is actively developing clean LNG and gas businesses which fit across the Company's value. Raising funds by issuing the Convertible Bonds represent an opportunity for the Group to enhance its working capital and strengthen its financial position for financing the expansion of the natural gas business."
About Beijing Gas Blue Sky Holdings Limited
Beijing Gas Blue Sky Holdings Limited ("Beijing Gas Blue Sky", HKSE stock code: 6828) is an integrated natural gas provider, distributor and operator, with an emphasis on the midstream and downstream natural gas development. Our natural gas business includes: (i) construction and operation of compressed natural gas ("CNG") and liquefied natural gas ("LNG") refueling stations for vehicles; (ii) construction of natural gas pipelines and operation of city gas projects by providing piped gas; (iii) direct supply of LNG to end-users; and (iv) trading and distribution of CNG and LNG.
The Group has adapted to the "One Belt One Road" policy, and focus on operating and investing natural gas business. The Group is actively expanding its business development and distribution, as well as continues to gradually expanding the scale of operations. Currently, the Group has business presence in several provinces in Northeast China, East China, Central South China and Southwest China, including Liaoning Province, Shandong Province, Anhui Province, Zhejiang Province, Hubei Province, Guizhou Province, Sichuan Province and Hainan Province, etc. The Group is committed to its vision: "develop clean energy, enhance customer value, and create a beautiful blue sky". In the future, it will continue to actively investing and developing natural gas business, as well as participating in the development of natural gas industry value chain.
For media inquiries, please contact:
Stimulus Investor Relations Ltd.
Contact: Ms. Hill Ho
Tel: +852 3159 2944
Email: hill.ho@stimulus-ir.com
Topic: Press release summary
Source: Beijing Gas Blue Sky Holdings Limited
Sectors: Energy, Alternatives
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From the Asia Corporate News Network
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