The latest announcement is out from China Petroleum & Chemical ( (HK:0386) ).
China Petroleum & Chemical Company (Sinopec) and its controlling shareholder, Sinopec Group, have announced a capital increase in Sinopec Capital. The capital increase, totaling RMB1,990 million, will be funded by Sinopec and Sinopec Group, with contributions of RMB975.1 million and RMB1,014.9 million respectively. This move will raise Sinopec Capital’s registered capital from RMB10,000 million to RMB11,990 million, while maintaining the existing equity interests of 49% for Sinopec and 51% for Sinopec Group. The capital increase is aimed at supporting Sinopec Capital’s investment plans, including significant investments in the hydrogen energy fund and the Central Enterprises Strategic Emerging Industries Development Fund, reflecting the company’s strategic focus on emerging industries.
More about China Petroleum & Chemical
YTD Price Performance: -8.98%
Average Trading Volume: 17,395
Technical Sentiment Signal: Buy
Current Market Cap: $88B
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