Bloomberg reported that Zhengzhou China Resources Gas Co plans to delist from the Hong Kong stock exchange on February 14 after China Resources Gas Group Ltd increased its stake in the mainland city-gas supplier.

The companies said in a joint statement to the Hong Kong stock exchange that China Resources Gas now controls 60.39% of Zhengzhou up from 56.87% previously.

China Resources Gas said on October 19 that China Resources Gas is expanding the number of city-gas projects it operates in China to meet demand for the cleaner burning fuel. Privatizing Zhengzhou would reduce potential conflicts in allocating resources and investment.

(Sourced from Bloomberg)