17 February 2020

Sinopec eyes private capital in restructuring, paper says

China Petroleum & Chemical Corp. (Sinopec) (00386.HK, 600028.CN) will overhaul its oil product sales business to allow private investment in it, Economic Information Daily reported Tuesday, citing chairman Fu Chengyu. The board has approved the sale of 30 percent of the business to private capital, with no limit on the percentage of shares an individual investor can hold, the report said.

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