Wednesday, July 22, 2009
China Gas Holdings purchased
This morning I added China Gas Holdings Limited (384) to the private portfolio paying HK$1.96 per share. China Gas Holdings is (as the name suggests) essentially a utility company which operates in the PRC. While the current PE multiple looks excessive and the dividend yield is anemic, the stock is essentially a growth story - projects coming on stream and continued growth in the PRC are expected to drive earnings going forward.