Green Dragon Gas to proceed with Hong Kong listing
London-listed coal-bed methane company Green Dragon Gas Ltd said yesterday that it will proceed with its plans to launch an initial public offering on the Main Board of the Hong Kong Stock Exchange next year.
Foreign media reports said that the company may raise up to US$450 million from the Hong Kong IPO early next year.
Green Dragon Gas said that it has asked five manufacturers to quote for the supply of 25 drilling rigs to expand its existing fleet of seven rigs.
Green Dragon Gas, along with its subsidiaries, is mainly engaged in the exploration, development and production of coal bed methane as well as distribution and sales of gas in China.
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