Shaanxi Natural Gas equity transfer gets government approval

Shaanxi Provincial Natural Gas Co., Ltd. (Shaanxi Natural Gas) announced progress in its equity transfer, following approval from the Shaanxi Provincial People's Government State-owned Assets Supervision and Administration Commission. This approval concerns the transfer of 13% of Shaanxi Natural Gas's shares by its controlling shareholder, Shaanxi Gas Group Co., Ltd., to China Communications Capital Holdings Co., Ltd. and Shaanxi Chang'an Huitong Capital Management Co., Ltd.

The transfer, initially announced on August 19, 2025, involves Shaanxi Gas Group selling 144,569,808 unrestricted circulating shares at a price of 7.97 yuan per share. Following the transaction, Shaanxi Gas Group's stake in Shaanxi Natural Gas will decrease from 64.43% to 51.43%. China Communications Capital will hold 77,845,281 shares, representing 7% of the total, while Huitong Capital will hold 66,724,527 shares, equating to 6%.

The transaction still requires a review by the Shenzhen Stock Exchange and subsequent confirmation, followed by the transfer of shares with China Securities Depository and Clearing Corporation Limited. Shaanxi Natural Gas will continue to monitor and disclose the progress of this significant equity restructuring.