国产人人色I色婷婷综合久久中文字幕雪峰I奇米色777欧美一区二区I久热久热aV爽青青在线I国产av喷水I国产伦精品一区二区三区免.费I高潮av在线Iww欧美一级I91天天看I黄a在线91I九一无码中文字幕久久无码色…I丰满国产精品视频二区

Economy

Markets

Industries

Insights

Reports

Events

UBS gets to arrange PetroChina share sale

(Shanghai Daily)
Updated: 2007-06-28 09:12

UBS AG was hired by PetroChina Co to arrange what may become China's biggest share sale this year, three people with direct knowledge of the decision said. Goldman Sachs Group Inc missed out.

UBS Securities Co, the China venture of Europe's largest bank by assets, will arrange the sale of about US$5.9 billion of stock together with China International Capital Corp and Citic Securities Co, the people said, asking not to be identified before an announcement.

UBS and Goldman are the only global securities firms licensed to underwrite share sales in China, the world's fastest-growing stock market, Bloomberg News said.

PetroChina, the world's fourth-biggest company by market value, hired Goldman for the three equity sales it's done so far.

Related readings:  PetroChina to lift crude oil storage  PetroChina announces Shanghai listing plan  PetroChina may raise US$5.6b in Shanghai Find more in Markets Watch

" Winning this mandate is another breakthrough for UBS in China," said Jing Liang, an analyst at Guotai Jun'an Securities Co. "The Chinese market has a lot of potential. It's not limited to stock sales, there will also be lots of acquisitions."

China's largest oil producer plans to offer a maximum of four billion shares in Shanghai to raise funds for overseas acquisitions, increased oil drilling and refinery construction, the company said on June 20. Shareholders will vote on the sale on August 10, PetroChina said last week. The stock fell 0.9 percent yesterday to HK$11.32 (US$1.45).

Chinese companies have sold 123.5 billion yuan (US$16 billion) worth of shares in Shanghai and Shenzhen this year.