Sinopec raises $3.1 billion from private H-share placement

The shares are sold to 10 investors at a 9.5% discount to yesterday’s close.

Sinopec raises $3.1 billion from private H-share placement
Sinopec is China's biggest oil refiner

China Petroleum Chemical Corp, commonly referred to as Sinopec, has raised HK$24.04 billion $3.1 billion from a private placement of new H-shares.

The deal, which is the largest equity transaction in Asia this year, was completed late last night after a wall-crossing exercise that, according to a source, had been going on for a couple of weeks.

There were some rumours in the market in the early evening about a large...

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