Shell divests Sinopec stake

Royal Dutch Shell sold a 2.2% stake in Sinopec yesterday (Wednesday), raising $742 million from a 1.85 billion share sale. Pricing at HK$3.125 per share came towards the tighter end of a HK$3.088 to HK3.153 range and represented a 3.85% discount to the stock's spot close of HK$3.25.