On 8 December 2017, the non-public issuance of A shares of Shaanxi Provincial Natural Gas Co., Ltd. (Stock Code: 002267) got approved by China Securities Regulatory Commission.
Shaanxi Provincial Natural Gas Co., Ltd. is the sole operator for long-distance pipeline in the province. The funds which raised through this non-public offering program are mainly used to support the construction of long-distance pipeline. As a result, it can greatly enhance the company’s operation capability of long-distance pipeline, as well as benefit for citizens’ wellbeing in Shaanxi province.
Due to the specificity of certain industry, the company do have administrative penalties. However, after consulting a large number of rules and regulations and cases, while interviewing the relevant authorities to illustrate that such administrative penalties should not consider as substantial punishments, the lawyers concludes that the administrative penalties would not cause adversely affect for this non-public offering.
Guantao team, led by Su Bo, Zhang Wenliang and Zhang Cuiyu, acted as lawyer of the issuer. Dang Yuxia and Tao Yinge of Guantao Xi’an office also participated the whole transaction.