News Column

Sinopec Said to Spin Off Oilfield Service for HK Listing

August 22, 2014

HONG KONG, August 22, SinoCast -- Foreign media quoted person in the know saying that China Petroleum & Chemical Corporation (Sinopec, SHSE: 600028, SEHK: 0386 and NYSE: SNP) planned to spin off oilfield service for a Hong Kong listing in the first half of 2015, financing USD 1.5 billion through an IPO. The plan was proposed in 2012, planning to finance tens of billions. Investment banks have been invited and related information will be declared within months. No detail is available for the plan.

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Source: Sinocast Energy Beat (China)

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