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Sinopec Corp. Announces Proposed Placing of New H Shares



           Sinopec Corp. Announces Proposed Placing of New H Shares

PR Newswire

BEIJING, Feb. 4, 2013

BEIJING, Feb. 4, 2013 /PRNewswire/ -- China Petroleum & Chemical Corporation
("Sinopec Corp." or the "Company") (HKEX: 386; NYSE: SNP; LSE: SNP; CH:
600028) has entered into an agreement today with a placing agent to offer by
way of placing an aggregate of 2,845,234,000 new H Shares (the "Placing
Shares") at a price of HKD8.45 per H Share. The Placing Shares represent
approximately 3.2% of the number of total issued shares as enlarged after the
placing, and approximately 14.5% of the number of H Shares as enlarged after
the placing, of Sinopec Corp. Assuming the placing of all Placing Shares, the
aggregate net proceeds from the placing are expected to be approximately
HK$23,970,100,618. Sinopec Corp. intends to use such net proceeds for general
corporate purposes. The completion is expected to take place on or about
February 14, 2013. An application will be made by Sinopec Corp. to the Stock
Exchange of Hong Kong Limited for the listing of, and permission to deal in,
the Placing Shares. As the completion of the placing is subject to the
satisfaction of certain conditions precedent and the placing agent's
termination rights, the placing may or may not proceed.

The Placing Shares will be offered in the United States only to qualified
institutional buyers in reliance on an applicable exemption from registration
under the U.S. Securities Act of 1933 (as amended) (the "Securities Act") and
outside the United States in reliance on Regulation S under the Securities
Act.

This press release is for information purposes only and is not and does not
constitute an offer to sell, solicitation of an offer to buy, or the sale of,
any of the securities described herein in any jurisdiction. The securities to
be offered have not been and will not be registered under the Securities Act
and may not be offered or sold in the United States absent registration or an
applicable exemption from the registration requirements of the Securities Act.

About Sinopec Corp.

Sinopec Corp. is one of the largest integrated energy and chemical companies
with upstream, midstream and downstream operations in the PRC. Its principal
operations include: the exploration and production, pipeline transportation
and sale of petroleum and natural gas; the sale, storage and transportation of
petroleum products, petrochemical products, synthetic fibre, fertiliser and
other chemical products; import and export, as well as import and export
agency business of oil, natural gas, petroleum products, petrochemical and
chemical products, and other commodities and technologies; and research,
development and application of technologies and information.

For additional information about Sinopec Corp., please visit the Company's
website at www.sinopec.com.

Forward-looking Statements

This press release contains forward-looking statements. Forward-looking
statements give the Company's current expectations or forecasts of future
events based on management's beliefs and assumptions using currently available
information and expectations as of the date hereof, are not guarantees of
future performance and involve certain risks and uncertainties, including
those contained in the Company's filings with the Securities and Exchange
Commission. Although it believes that the expectations reflected in these
forward-looking statements are reasonable, the Company cannot assure you that
its expectations will prove correct. Forward-looking statements in this press
release relate to, among other things, the closing of the placement and the
use of proceeds therefrom. Therefore, actual outcomes and results could
materially differ from what is expressed, implied or forecast in such
statements. The forward-looking statements speak only as of the date made and,
other than as required by law, the Company undertakes no obligation to
publicly update or revise any forward- looking statements, whether as a result
of new information, future events or otherwise.

Investor Inquiries:   Media Inquiries:
Beijing
Tel: (8610) 5996 0028 Tel: (8610) 5996 0028
Fax: (8610) 5996 0386 Fax: (8610) 5996 0386
Email: ir@sinopec.com
                       
 
Hong Kong
Tel: (852) 2824 2638  Tel: (852) 3512 5000
Fax: (852) 2824 3669  Fax: (852) 2259 9008
                      Email: sinopec@brunswickgroup.com

 

 

SOURCE China Petroleum & Chemical Corporation

Website: http://www.sinopec.com
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