Sinopec sells stake in retail unit for $17.4b

Sinopec sells stake in retail unit for $17.4b

Asia’s largest oil refiner sells a 29.99% stake in its retail unit to 25 investors for Rmb107.094 billion in cash.
Mirza Adityaswara, senior deputy governor at the country's central bank, tells FinanceAsia the budget needs to be re-allocated to achieve 7% growth target.
Strong retail uptake allowed the Chinese car rental company to raise $468m and price its shares at the top of the indicative range.
India’s second largest bank sells a new 5.5-year note, pricing it inside its existing funding curve as global investors continue to ride on Modi-fueled enthusiasm.
The special administrative region launches its first Islamic bond, pricing the AAA-rated sukuk at the tightest levels ever seen from any Asia ex-Japan issuer.
Hong Kong completes the fourth largest G3 global Islamic bond so far this year.

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