TAIPEI, Taiwan — The Great Taipei Gas Corp. yesterday rose by the maximum daily movement allowed by the Taiwan Stock Exchange because the city gas company may raise prices next year.
The natural gas retailer, the biggest in Taiwan by market value, surged 6.9 percent by the 1:30 p.m. close in Taipei, the highest since NT$17.80 on July 31.
Great Taipei Gas has applied to raise prices by NT$1.9 a cubic meter, or about 13 percent, Lin Jui-san, a company vice president, said by phone from Taipei yesterday. The price change needs the approvals of the Ministry of Economic Affairs, the city government and council, Lin said.
“It’ll take at least six months or maybe a year for a decision,” he said. “The size of the price gain is up to regulators.”
The stock has advanced 2.1 percent this year, compared with the 14 percent gain in the benchmark Taiex stock index.