Sunshine Oilsands secures cornerstones for Hong Kong IPO

China’s sovereign wealth fund and other major investors will stump up more than half of the Canadian energy company's planned $600 million IPO.

Sunshine Oilsands secures cornerstones for Hong Kong IPO

Calgary-based Sunshine Oilsands has signed up three cornerstone investors that will commit $350 million in its initial public offering, or more than half the targeted $600 million, a source close to the transaction said.

It is a substantial commitment given that the target size of the IPO was initially expected to be between $300 million and $600 million. China Investment Corp, the country’s sovereign wealth fund, has pledged $150 million, while China Petrochemical Corp Sinopec...

To continue reading, please login or register for free

Print Edition

FinanceAsia Print Edition

CONFERENCES

  • 2nd Compliance Summit Southeast Asia

    17 August 2017  |  Singapore
    The 2017 Compliance Summit Southeast Asia will take an in-depth look at the key compliance considerations today with a focus on regulation and new ...