Green Dragon Gas Mulls China Listing

China focused coalbed methane explorer Green Dragon Gas is looking to list on Chinese stock market. The company is already listed on London Stock Exchange.

“With this increased domestic interest, the board has decided to evaluate the merits of a dual listing to potentially access the Chinese financial markets where the prospects in Chinese CBM energy investment have broader appeal and understanding,” Randeep Grewal, chairman and founder of Green Dragon, said February 2.

While the company does not expect to issue any new shares, it hopes this will help narrow the discount to its asset value and deliver increased value to all shareholders. The board will come to a decision on the merits of a dual listing in 1Q 2017.

Randeep S. Grewal (Photo credit: Green Dragon Gas)

Meanwhile, the company stated that its total equity gas sales had risen by 5.6% to 3.41bn ft³. “With the ongoing support of the central government, increasing interest and access to capital domestically as well as increasing sales from our core assets, we are excited about 2017 and look forward to a year of growth," Grewal said. 

Shardul Sharma