Sinopec said the proceeds from the sale would be used "for general corporate purposes". Photo: Reuters Sinopec said the proceeds from the sale would be used "for general corporate purposes". Photo: Reuters
Sinopec said the proceeds from the sale would be used "for general corporate purposes". Photo: Reuters

Sinopec tumbles on surprise sale of HK$24b shares at huge discount

Stock drops 6.4 per cent after the oil-refining giant upsets the market by selling HK$24 billion of shares to select investors at a big discount

Topic |   Sinopec
Sinopec said the proceeds from the sale would be used "for general corporate purposes". Photo: Reuters Sinopec said the proceeds from the sale would be used "for general corporate purposes". Photo: Reuters
Sinopec said the proceeds from the sale would be used "for general corporate purposes". Photo: Reuters
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