Not sure if todays news from Fortune is going to effect MPO or not but they have just received some substantial investment in their company......... Fortune Oil is pleased to announce that a conditional Subscription Agreement has been signed for an investment in Fortune Gas Investments Holdings Limited ("Fortune Gas"), a newly created holding company for Fortune Oil's gas business, for US$72 million (£39 million) (the "Investment"). Wilmar International Limited and Star Medal, a wholly-owned subsidiary of Kerry Holdings Limited, have each agreed to invest US$36 million to acquire new shares in Fortune Gas representing 15 per cent each of the enlarged share capital of Fortune Gas. The cash raised from the Investment will be used to finance further expansion of the gas business. The cash raised through the Investment will accelerate the creation of an integrated gas business through acquisitions and investments across the gas chain, from coal bed methane to retail Compressed Natural Gas stations. With the new strategic investors, Fortune Gas will be able to maintain its high rate of growth and capture the many opportunities in China's emerging gas sector. Wondering how much if any may go towards Liulin???? Interesting given the rise in SP the last couple of days. May be just coincidence. Would Fortune like to take Liulin from MPO??? Prefer not...... Thoughts peoples?
MPO Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held
