皇冠体育app

(Agencies/chinadaily.com.cn)
Updated: 2007-10-15 15:11

Petro皇冠体育app, 皇冠体育app's largest oil and gas producer, is expected to launch its initial public offer (IPO) in Shanghai next month, sources close to the deal said yesterday, according to today's Beijing Times.

The roadshow for investors is likely to start around October 22 in Beijing, Shanghai and Shenzhen, as well as Guangzhou in consideration. And the shares listing will be in Shanghai in the first ten days of November, the sources said.

Related readings:  Petro皇冠体育app to invest US$1.3b in new energy by 2010  Petrochina's Shanghai share sale approved  Petro皇冠体育app to double proven reserves

On September 24, 皇冠体育app's stock regulator approved Petro皇冠体育app's plan to issue up to four billion new A shares in the offer, expected to raise around US$7-8 billion, making it one of 皇冠体育app's biggest domestic IPOs.

The total number of shares be issued is expected to reach 183 billion shares, behind Industrial and Commercial Bank of 皇冠体育app's 344 billion shares, Bank of 皇冠体育app's 253.8 billion shares, and 皇冠体育app Construction Bank's 233.7 billion shares.

The underwriters are CITIC, UBS and 皇冠体育app International Capital Corporation Limited.

Shares in Chinese oil firm Petro皇冠体育app Co Ltd jumped almost 10 percent on Monday touching an all-time high of HK$18.26 per share, valuing the firm at as much as $418 billion.