China Resources Gas raises $350 million from top-up placement

China Resources Gas Group (CR Gas), a distributor of natural gas, petroleum gas and liquefied petroleum gas (LPG) in China, has raised HK$2.71 billion ($350 million) from a top-up placement, taking advantage of a sharp run-up in its share price. The stock gained 4.5% to a fresh five-year high on Monday and was up 66% year-to-date before the deal.