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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