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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.