Sinochem Considers Mainland IPO for Oil Trading Unit
- Conglomerate is considering Shanghai for Sinochem Energy unit
- Hong Kong application lapsed in January amid tepid interest
Photographer: Nelson Ching/Bloomberg
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Sinochem Group is considering listing its oil trading and refining unit on a mainland Chinese exchange after earlier letting a Hong Kong initial public offering application lapse, people with knowledge of the matter said.
The state-owned conglomerate is considering Shanghai as a potential venue for a Sinochem Energy Co. share sale, said the people, who asked not to be identified because the information is private. Sinochem has approached China Securities Regulatory Commission about the possible mainland deal, according to one of the people.