Wednesday, August 8, 2007

PetroChina A shrs Listing on October.

BEIJING (XFN-ASIA) - PetroChina Co Ltd (HK 0857) is expected to make its mainland stock market debut as early as October, the official China Daily reported. ""We have tentatively set October for the listing,"" an official of parent company China National Petroleum Corp (CNPC) was quoted as saying. The official said PetroChina's Mainland listing will raise at least 40 bln yuan. Earlier, PetroChina announced that it filed an application with mainland regulators to issue up to 4 bln A-shares through an initial public offering in Shanghai. ""The new shares will be priced on the basis of PetroChina's share price in Hong Kong. The indicative price for the initial public offering might hover around 10 yuan,""he said. PetroChina has chosen UBS Securities, the Swiss bank's joint venture with Beijing Securities, China International Capital Corp and Citic Securities to underwrite the offering, the official said. PetroChina closed THE morning at 10.76 hkd, up 0.16 hkd.

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