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China Petroleum & Chemical Corp To Sell $3.1 Billion In New Stock-Reuters


Monday, 4 Feb 2013 09:39pm EST 

Reuters reported that China Petroleum & Chemical Corp (Sinopec), said it plans to raise about $3.1 billion in a share offering to fund its business development. Sinopec agreed to sell 2.85 billion new Hong Kong-traded shares at HKD8.45 each, a 9.5% discount to February 5, 2013 close and 7.4% below the average closing price over the past 30 days, the Company said. Proceeds from the offering would be used as general working capital to fund the business development of the Company, Sinopec said. 

Company Quote

81.2
2.18 +2.76%
19 Dec 2014