Kunlun Energy Co Ltd : Kunlun Energy Raised HK$10.48 Billion In Share Placement
04/03/2012| 07:43am US/Eastern
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--Kunlun Energy raised HK$10.48 billion in share placement
--Temasek Holdings and RRJ Capital bought Kunlun Energy shares in the deal
--Kunlun Energy ended down 3.1% Tuesday
(Adds Temasek Holdings and RRJ Capital bought Kunlun Energy shares in the deal in third paragraph; Kunlun Energy's share performance in fourth paragraph.)
By Prudence Ho
Of
Kunlun Energy Co. (0135.HK) has raised HK$10.48 billion (US$1.35 billion)in a share placement after pricing the deal near the bottom of an indicative price range.
Kunlun said Tuesday it sold 800 million shares at HK$13.1 each, a 7.62% discount to Monday's closing price of HK$14.18. The indicative price range of the share sale was HK$13-HK$13.5, according to a term sheet seen by Dow Jones Newswires earlier.
Singapore state investment firm Temasek Holdings Pte. Ltd. and private equity firm RRJ Capital bought Kunlun Energy shares in the deal, a person familiar with the situation said Tuesday, without elaborating.
The company, which is majority-owned by PetroChina Co., China's largest gas producer by capacity, ended down 3.1% to HK$13.74 Tuesday, compared with a 1.3% increase in the benchmark Hang Seng Index.
Kunlun will use the proceeds to develop its liquefied natural gas business.
-By Prudence Ho, Dow Jones Newswires; 852-2802-7002; prudence.ho@dowjones.com
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