CNOOC to Boost Stake in China Oilfield Services with Major Shareholding Increase Plan

China Oilfield Services ( (HK:2883) ) has shared an update.

China Oilfield Services Limited announced that its controlling shareholder, China National Offshore Oil Corporation (CNOOC), plans to increase its shareholdings in the company by purchasing additional A shares and H shares over the next 12 months. This Shareholding Increase Plan, valued between RMB300 million and RMB500 million, will be executed through centralized price bidding and trading systems in Shanghai and Hong Kong. The move reflects CNOOC’s confidence in the company’s future prospects and aims to strengthen its market position. However, the plan’s implementation is subject to market conditions and regulatory requirements, with potential risks of partial or non-implementation.

More about China Oilfield Services

China Oilfield Services Limited is a joint stock limited liability company incorporated in the People’s Republic of China. It operates in the oilfield services industry, providing services primarily related to offshore oil exploration and production. The company is a subsidiary of China National Offshore Oil Corporation (CNOOC), which is its controlling shareholder.

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