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23

PetroChina To Draw Ever Largest Listing Plan

Petrochina is still considering to draw a plan for a domestic listing which would be the largest-ever share-offering on the Chinese market

The Chinese largest oil company Petrochina is still considering to draw a plan for a domestic listing which would be the largest-ever share-offering on the Chinese market, a spokesman said yesterday.
A specific timetable has yet to be drawn up on the listing.
PetroChina raised US$2.9 billion in a dual-listing in Hong Kong and New York in 2000. The company announced in 2001 that it was planning the largest-ever domestic listing to finance the US$14.5 billion west-east gas pipeline.
The Financial Times reported on Sunday that PetroChina is planning to raise US$3.6 billion to US$4.8 billion on the domestic market to fund overseas expansion plans.