Key Developments: China Petroleum & Chemical Corp (0386.HK)

0386.HK on Hong Kong Stock

7.00HKD
17 Apr 2014
Price Change (% chg)

HK$0.08 (+1.16%)
Prev Close
HK$6.92
Open
HK$6.96
Day's High
HK$7.04
Day's Low
HK$6.92
Volume
70,042,131
Avg. Vol
138,431,705
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HK$7.50
52-wk Low
HK$5.02

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Latest Key Developments (Source: Significant Developments)

China Petroleum & Chemical Corp Announces Conversion of Convertible Bonds
Monday, 1 Jul 2013 08:00pm EDT 

China Petroleum & Chemical Corp announced that its 8,579,020 convertible bonds (par value: RMB 100 per bond) have been converted into 117,837,373 A shares of common stock as of June 30, 2013. After that, the Company's total shares outstanding increased to 116,565,277,972 (A shares and H shares).  Full Article

China Petroleum & Chemical Corp Adjusts Conversion Price of Convertible Bonds
Wednesday, 12 Jun 2013 08:00pm EDT 

China Petroleum & Chemical Corp announced that it has adjusted the conversion price of its convertible bonds from RMB 6.98 per share to RMB 5.22 per share, effective June 19, 2013, due to the Company's dividend payment for fiscal year 2012.  Full Article

China Petroleum & Chemical Corp Announces FY 2012 Dividend Payment Date
Wednesday, 12 Jun 2013 08:00pm EDT 

China Petroleum & Chemical Corp announced that it will use undistributed profit to pay a cash dividend of RMB 2.00 and issue two new shares as stock dividends for every 10 shares, and use additional capital to distribute one new share for every 10 shares for fiscal year 2012, to shareholders of record on June 18, 2013. The Company's shares will be traded ex-right and ex-dividend on June 19, 2013 and the dividend will be paid on June 25, 2013.  Full Article

China Petroleum & Chemical Corp Announces Change of President
Wednesday, 29 May 2013 08:00pm EDT 

China Petroleum & Chemical Corp announced the resignation of Mr. Wang Tianpu as President, effective May 28, 2013, and the appointment of Mr. Li Chunguang as new President, effective May 29, 2013.  Full Article

China Petroleum & Chemical Corp's Subsidiary to Issue Bonds
Friday, 19 Apr 2013 08:00pm EDT 

China Petroleum & Chemical Corp announced that its wholly owned overseas subsidiary, Sinopec Capital, has decided to issue USD 750 million 2016 due bonds, USD 1,000 million 2018 due bonds, USD 1,250 million 2023 due bonds, as well as USD 500 million 2043 due bonds. The issue price for the bonds are: 99.739% of the total amount for the 2016 due bonds, 99.872% of the total amount for the 2018 due bonds, 99.422% of the total amount for the 2023 due bonds, 99.345% of the total amount for the 2016 due bonds. The interest rates for the bonds are, 1.250%, 1.875%, 3.125% and 4.250% respectively. The Company will provide guarantee for the bonds. Citigroup, BofA Merrill Lynch, UBS and J.P. Morgan will be the representatives of the original underwriters.  Full Article

China Petroleum & Chemical Corp Announces Change of Accounting Auditor
Thursday, 11 Apr 2013 08:00pm EDT 

China Petroleum & Chemical Corp announced that it will change its accounting auditor for fiscal year 2013 from KPMG China to Price Waterhouse Coopers China.  Full Article

China Petroleum & Chemical Corp To Pay $1.5 Billion For Parent's Oil, Gas Assets-Reuters
Sunday, 24 Mar 2013 11:31pm EDT 

Reuters reported that China Petroleum & Chemical Corp will pay $1.5 billion for overseas oil and gas-producing assets held by its parent, to reshape its business and improve earnings.  Full Article

China Petroleum & Chemical Corp Proposes Final Dividend
Sunday, 24 Mar 2013 06:38am EDT 

China Petroleum & Chemical Corp announced that the Board of Directors approved the proposal to declare a final cash dividend of RMB 0.20 per share (2011:RMB0.13 per share)(tax included) with an interim distributed dividend of RMB 0.10 per share (tax included), the total dividend for the whole year is RMB 0.30 per share (tax included); and based on the total equity on relevant record date, issue 2 bonus shares converted from retained earnings and 1 bonus share converted from capital reserve for every 10 existing shares held by the shareholders on relevant record date.  Full Article

China Petroleum & Chemical Corp Announces Proposed Change In Auditors
Sunday, 24 Mar 2013 06:07am EDT 

China Petroleum & Chemical Corp announced that it has resolved to propose to appoint PricewaterhouseCoopers and PricewaterhouseCoopers Zhong Tian CPAs Limited Company (the name will be changed to PricewaterhouseCoopers Zhong Tian LLP) as the external auditors of the Company for the year 2013 (the Proposal). The Proposal is subject to the approval by the Shareholders at the annual general meeting for the year 2012 (the AGM). KPMG and KPMG Huazhen (Special General Partnership) will respectively retire as the international and PRC auditors of the Company with effect from the close of the forthcoming AGM of the Company and the Company will not re-appointment them as the auditors of the Company for the year ended December 31, 2013 due to the SASAC Rotation Requirements.  Full Article

China Petroleum & Chemical Corp Announces Completion Of Placing Of New H Shares
Thursday, 14 Feb 2013 06:05am EST 

China Petroleum & Chemical Corp announced that all the conditions as set out in the Placing Agreement have been satisfied and the Placing has been completed on February 14, 2013 in accordance with the terms and conditions of the Placing Agreement. An aggregate of 2,845,234,000 new H Shares, representing approximately 3.2% of the total number of issued Shares (as enlarged by the allotment and issue of the Placing Shares) and approximately 14.5% of the total number of H Shares in issue (as enlarged by the allotment and issue of the Placing Shares), have been successfully allotted and issued by the Company on February 14, 2013 at the Placing Price of HKD8.45 to not fewer than six Placees, who and whose ultimate beneficial owners are third parties independent of and not connected with the Company or its connected persons. The aggregate gross proceeds from the Placing amount to approximately HKD24,042,227,300 and the aggregate net proceeds (after deduction of the commissions and estimated expenses) amount to approximately HKD23,970,100,618.  Full Article

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