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Sinopec’s retail IPO gets green light from State
The Chinese authorities have finally approved Sinopec’s long-awaited initial public offering (IPO) of the business arm that runs its network of fuel retail outlets and convenience stores, reports Petrolworld.
Although a definitive timetable for when preparations will start has not been set, it is understood that Sinopec aims to sell shares in Sinopec Marketing Company during 2019, in a bid to raise between $5bn and $6bn.
News Item details
Journal title: Petroleum Review
Region: Asia-Pacific
Countries: China -
Subjects: Banking, finance and investment, Economics, business and commerce, Business management, Forecourt retailing
