|
CNOOC Group to continue listing units |
|
|
|
|
Written by Administrator
|
|
Wednesday, 30 August 2006 |
|
BEIJING, August 30 (InfoChina) – Following good response to China Blue’s IPO, CNOOC Group will go on seeking opportunities to list its profitable units, the company’s chairman Fu Chengyu was quoted by Shanghai Securities News as saying.
China Blue chemical, CNOOC Group’s chemical fertilizer unit, started pre-marketing the up to 400 million dollars spin-off on Monday. Aiming to list on the Hong Kong stock exchange on Sept.29, China Blue plans to sell about 10% of its IPO to Norwegian chemical fertilizer company, Yara International and some tycoons in Hong Kong, as market hearsays go. With a strong demand for fertilizer in China, it is believed that China Blue will develop well in the future, Fu said. Meanwhile, CNOOC Group, parent company of CNOOC (NYSE:CEO), is also extending its downstream business. Besides setting up Product Oil Sale Company in Guangzhou, south of China, the group also plans to strengthen renewable energy research, especially offshore wind power. |
China Stock News