CNOOC to play it safe with IPO

In uncertain global equity markets, China National Offshore Oil Corporation (CNOOC) is to adopt a cautious stance with its $1.2 billion to $1.5 billion Hong Kong and New York Stock Exchange flotation.
January 17, 2001

In particular, one of the company's key selling points - the revenue-sharing rights for which it receives 51% of any profitable offshore discoveries made by foreign partners - have been accorded no monetary worth in the $7 billion to $8.5 billion Net Asset Value (NAV) attached to the company.

Sign in to read on!

Registered users get 2 free articles in 30 days.

Subscribers have full unlimited access to FinanceAsia.

Not signed up? New users get 2 free articles per month, plus a 7-day unlimited free trial.

Questions?
See here for more information on licences and prices, or contact [email protected].

Share our publication on social media
Share our publication on social media