Others News
- Sinopec has no timetable to take units private
Date: 23-Jan-2007 Sources: (Shenzhen Daily)
CHINA Petroleum & Chemical Corp. has no time frame to take its listed units private, the Securities Times reported yesterday, citing an unnamed company executive.
The paper also cited the executive as saying proceeds from its planned bond issues will be used to repay bank loans borrowed to finance previous buyouts. Speculation has resurfaced that the refiner, better known as Sinopec, will take its listed units Sinopec Shanghai Petrochemical Co. and Sinopec Yizheng Chemical Fibre Co. private soon with capital from debt issues.
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