Sinopec, Shenhua see stakes increase
By Richard Fu |
January 11, 2012, Wednesday
|
Print Edition
Print Edition
Sinopec Corp and Shenhua Energy Co said yesterday their state-owned parents have raised stakes in the listed units in a move analysts saw as boosting share prices and investor confidence.
Sinopec, China's largest oil refiner, said parent China Petrochemical Corp (Sinopec Group) has bought 39 million yuan-denominated Shanghai-listed A shares and 425 million Hong Kong-listed H shares to increase its holding from 75.84 percent to 76.38 percent.
"This could reassure investors about the firm's restructuring under new Chairman Fu (Chengyu) and help the stock to continue to outperforme," Mirae Asset Securities analyst Gordon Kwan wrote in a note.
Shenhua's parent, the Shenhua Group, bought 10.8 million A shares to lift its stake in the country's biggest coal producer to 73.01 percent from 72.96 percent.
Their moves were made as the Shanghai Composite Index shrank by over one fifth last year, making the stock market one of the worst performers globally.
Meanwhile, Shanghai-listed China United Network Communications Ltd said its parent increased its stake in the firm from 61.05 percent to 61.07 percent.
Sinopec, China's largest oil refiner, said parent China Petrochemical Corp (Sinopec Group) has bought 39 million yuan-denominated Shanghai-listed A shares and 425 million Hong Kong-listed H shares to increase its holding from 75.84 percent to 76.38 percent.
"This could reassure investors about the firm's restructuring under new Chairman Fu (Chengyu) and help the stock to continue to outperforme," Mirae Asset Securities analyst Gordon Kwan wrote in a note.
Shenhua's parent, the Shenhua Group, bought 10.8 million A shares to lift its stake in the country's biggest coal producer to 73.01 percent from 72.96 percent.
Their moves were made as the Shanghai Composite Index shrank by over one fifth last year, making the stock market one of the worst performers globally.
Meanwhile, Shanghai-listed China United Network Communications Ltd said its parent increased its stake in the firm from 61.05 percent to 61.07 percent.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 娌狪CP璇侊細娌狪CP澶05050403鍙-1
- |
- 浜掕仈缃戞柊闂讳俊鎭湇鍔¤鍙瘉锛31120180004
- |
- 缃戠粶瑙嗗惉璁稿彲璇侊細0909346
- |
- 骞挎挱鐢佃鑺傜洰鍒朵綔璁稿彲璇侊細娌瓧绗354鍙
- |
- 澧炲肩數淇′笟鍔＄粡钀ヨ鍙瘉锛氭勃B2-20120012
Copyright 漏 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
