Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Sinopec Engineering Said to Plan $1.5 Billion H.K. IPO

Don't Miss Out —
Follow us on:

Nov. 28 (Bloomberg) -- China Petrochemical Corp., the nation’s biggest refiner, plans to seek about $1.5 billion in an initial public offering of its engineering unit, two people with knowledge of the matter said.

The IPO of Sinopec Engineering (Group) Co. may start in Hong Kong in the second half next year, said the people, who asked not to be identified because the information is private. China Petrochemical, known as Sinopec Group, is injecting part of its oilfield services business into the unit, which was set up this year, they said.

Citic Securities Co., JPMorgan Chase & Co. and UBS AG are among banks arranging the offering, the people said. A Beijing-based spokesman for Sinopec couldn’t be reached to comment on the plan.

The Wall Street Journal reported the IPO plan earlier today.

To contact the reporter on this story: Fox Hu in Hong Kong at fhu7@bloomberg.net

To contact the editor responsible for this story: Philip Lagerkranser at lagerkranser@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.