China National Petroleum Corporation

CNPC issue complete

PUBLISHED : Monday, 23 February, 1998, 12:00am
UPDATED : Monday, 23 February, 1998, 12:00am

CNPC (Hong Kong) says shareholder Sun World has completed the first subscription of new CNPC shares. CNPC said 260 million new shares were issued to Sun World under the first subscription, raising about $596 million. Following completion of the share issue, Sun World and associated parties will hold a 50.61 per cent interest in CNPC. The deal values CNPC shares at $2.35 each. CNPC shares last traded at $1.69 on Friday.