Stocks News
- No plan to buy out HK-listed units: Sinopec
Date: 17-May-2007 Sources: (Shenzhen Daily)
CHINA Petroleum & Chemical Corp., or Sinopec, Asia's largest refiner by capacity, said yesterday it doesn't plan to buy out its listed units in Hong Kong at the moment.
'We've said many times already, we don't plan to do it now,'said a company official, who declined to be named. When Sinopec listed in 2000, it said it aimed to take its units private to simplify its structure. Sinopec still has a number of units listed in Hong Kong, mainland and New York, including Sinopec Shanghai Petrochemical Co., Sinopec Yizheng Chemical Fiber Co., Sinopec Kantons Holdings Ltd. and Sinopec Wuhan Phoenix Co.
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