Business Activities News
- Trading in seven Sinopec firms suspended
Date: 7-Dec-2006 Sources: (Shenzhen Daily)
TRADING in seven Shanghai and Shenzhen-listed firms related to Sinopec Corp. was suspended yesterday pending important announcements, company statements said.
No reasons were given for the suspension, but Sinopec, Asia's largest refiner, is engineering an overhaul to simplify a sprawling structure spanning several listed arms, having taken private several units and planning to privatize others.
'Our company will have an important announcement to make and trading in its shares will be suspended from Dec. 6 to 8,'Sinopec Wuhan Petroleum Co. said in a statement, which was identical to statements of the other six companies.
Shenzhen-listed Sinopec Wuhan Petroleum, Shijiazhuang Petrochemical Co. and Taishan Petro are directly controlled by Sinopec.
Shenzhen-listed Yuexingchang, Beijing Huaer, SC Meifeng and Shanghai-listed Lurun Co. are controlled by Sinopec subsidiaries.
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