Renaissance United Subsidiary Reports Residential Gas Pricing Increase in Guangshui, China; Shares Plunge 50%

MT Newswires

11/19

Renaissance United (SGX:I11), through its subsidiary Hubei Zonglianhuan Energy Investment, reported the implementation of new residential gas pricing in Guangshui county, China, according to a Tuesday filing with the Singapore Exchange.

Shares of the company plunged over 50% in Wednesday's morning trading.

The latest implementation is the last of four concessions to adopt China's National Development and Reform Commission's pricing policy for city gas.

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