Green Dragon Gas
Green Dragon is the parent company of Greka China, and is exclusively focused in gas industry in China. Green Dragon operates within China under its subsidiary Greka China Green Dragon is a gas supplier based in China with a focus on the production, development, production, distribution and sales of natural gas from coal seams, commonly known as coal bed methane or CBM.
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Evolution says funding concerns overshadow underlying value of Green Dragon Gas
Broker Evolution Securities issued a note on Green Dragon Gas and its US$25 million fundraising announcement yesterday, saying it is disappointing that the short term funding concerns of the business seem to overshadow the underlying value of the assets.
The share was trading down 4 percent in midday deals today.
Evolution said Coal Bed Methane assets are increasingly attracting attention – especially in Australia, where the assets of Pure Energy have been the subject of a bidding war between BG Group and Arrow. This comes hot on the heels of a similar battle for Origin. These deals indicate valuations of CBM reserves and resources at multiples of GDG’s current valuation.
The broker is retaining its ‘buy’ rating on Green Dragon Gas.
Other Green Dragon Gas news
- Green Dragon’s Grewal speaks at prestigious Chinese conference
2011-08-31 - Green Dragon Gas chairman Grewal appointed to provincial gov't board in China
2011-08-03 - Green Dragon Gas says Chinese CBM contracts remain in ‘full force and effect’
2011-03-12 - Enter the Dragons: China's coal bed methane specialist prepares to do the splits
2011-02-16 - Green Dragon Gas to move ahead with Hong Kong IPO
2010-11-09
