Tianjin Development no intention to reduce holding of Wah Sang Gas

Rumor stirred in the market that Wah Sang Gas Holdings (8035) parent company Tianjin Development Holdings (0882) would reduce shareholding in Wah Sang Gas and even conduct placement. However, Tianjin Development spokesman confirmed that the company had no intention to reduce holding of Wah Sang Gas at the present.Tianjin Development controls 31% shares of Wah Sang Gas through its subsidiary Santa Resources. Wah Sang Gas placed 3.5 mln shares through top up placing in Feb. to raise HK$21 mln.

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