XIAMEN FIT IMPORT & EXPORT CO., LTD.

PetroChina closer to A-share listing
click rate:2754 issue time:2007-03-10 08:12

Mar. 9, 2007 (China Knowledge) – PetroChina Co. Ltd. <PTR> <857> is awaiting approval from the China Regulatory Securities Commission (CSRC) to launch its A-shares.

Already listed in the U.S. and Hong Kong, PetroChina plans to issue five billion shares at RMB 6 each. Should RMB 30 billion be raised, PetroChina’s A-share listing will far exceed Sinopec’s IPO, which raised RMB 10 billion.

PetroChina intends to use the IPO proceeds for the company's core business, including potential M&A projects at home and abroad.

China International Capital Corp. (CICC) has been appointed to be the company’s main underwriter.