The Insider | Company directors snap up shares at natural gas firms, as insider buying gains momentum for third week

Directors of natural gas providers have been active in adding to their shareholdings in the past month, with purchases seen in a number of energy majors ahead of the cooler autumn temperatures.

This comes as insider buying rose for the third straight week while the selling among directors was up for the second straight week based on filings on the Hong Kong stock exchange from August 27 to 31.

A total of 55 companies recorded 286 purchases worth HK$443 million (US$56.45 million) versus 14 firms with 47 disposals worth HK$70 million. The figures were up from the previous week’s 46 companies, 178 purchases and HK$290 million on the buying side and 8 firms, 29 disposals and HK$54 million on the selling side.

China Gas Holdings managing and founder Liu Ming-hui and executive director Huang Yong acquired a combined 1.45 million shares of China Gas Holdings on August 17 at an average of HK$25.71 each.

The purchases were made after the stock fell by 30 per cent from June 5.

Meanwhile, Gas Blue Sky Holdings chairman Cheng Ming-kit bought 3.92 million shares on August 30 at 52 HK cents. The trade increased his holdings to 1.439 billion shares or 11.59 per cent of the issued capital. The purchase was made after the company announced a 193 per cent gain in first-half profit to HK$78.7 million.