Sinopec-China Petroleum
A safeguard stands at the entrance of Sinopec Engineering Incoporation in Beijing on May 7, 2013. Two Chinese state-owned firms will hold initial public offerings with a combined value of USD 3.6 billion in the biggest such deals in Hong Kong this year, a report said on May 6.
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We continue to believe that the new refining mechanism reduces the regulatory risk of Sinopec's refining business and thus should lead to higher valuations for Sinopec over time
Although the deal size is relatively small compared to Sinopec's market cap of US$98 billion, we believe this upstream asset acquisition is one of many to come in the months ahead, and will certainly improve the overall profitability of the firm amid prevailing US$100-plus oil prices
Everyone is expecting refining business to be better this year, the big question mark is whether the petrochemical sector can show a recovery or not ... Capital spending may go up a bit in order to meet higher fuel standards, but it should not be a big burden as Sinopec can charge higher prices for higher grades.More quotes »
Newsday's coverage
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Chesapeake in land deal with Sinopec for $1.02B
needed to fuel their economies.Canadian and U.S. authorities recently approved the acquisition of Canada's Nexen Inc. by China's CNOOC for $15.1 billion. China's state-owned PetroChina in December announced that it was paying $2.21 billion for a 49.9 percent Read more »
Around the web
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Bayer wants to export technology made in China
foams and coatings in key sectors such as mobility, construction, IT and renewable energy. Li Yongwu, chairman of the China Petroleum and Chemical Industry Federation believes the regional innovation hub is in line with the promotion of indigenous innovation 10:21 AM from China Daily Read more »
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Chinese shares close higher on upbeat bluechips
sub-index for the sector gaining 3.96 percent. NARI Technology Development Limited Company surged 6.09 percent to 23.51 yuan. China's petroleum sector gained 2.77 percent on Monday. China Petroleum & Chemical Corporation increased 1.92 percent to 6.91 yuan from SINA English Read more »
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Billionaire Returns To The Iraqi Oil Game With New IPO
Swiss billionaire made the bulk of his $2.1 billion fortune (as of Forbes’ last count) selling publicly traded Addax Petroleum to Sinopec in 2008 for $7.2 billion. And this week he finally returned to the public markets, bringing in $250 million through the from Forbes Blogs Read more »
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Sinopec Engineering Raises $1.8 Billion in IPO
Co. raised US$1.07 billion in its own Hong Kong IPO.Sinopec Engineering, a construction and engineering arm of oil giant China Petrochemical Corp., or Sinopec Group, priced the deal at the bottom of its price guidance, a person familiar with the situation from Wall Street Journal Read more »
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Signs of an IPO Rebound in Hong Kong
deals. On the Galaxy IPO, cornerstone investors include pan-Asian insurer AIA Group Ltd. and China Life Insurance, while Sinopec Engineering's IPO has China Shipping (Group) Co. to give investors some comfort."A balanced demand and allocation between long-term from Wall Street Journal Read more »
