CSSC Plans $0.6B Private Placement
China CSSC Holdings (600150) plans to raise up to four billion yuan from a private placement of 60 million shares at not less than $0.6b per share, reports Shanghai Securities News, citing a company filing. The target shares will be offered to up to 10 investors, including China State Shipbuilding Corporation (CSSC), CSSC Holdingsā parent, Baosteel Group and China Shipping Group. (Source: CapitalVue)
CISC Eyes $928m IPO
According to reports, CSIC is considering launching a domestic initial public offering to raise up to $928m, state media said. CSIC, which controls Dalian Shipbuilding Industry Corp and some other domestic shipyards, will fold 16 units into one listing vehicle and float it either in Shanghai or Shenzhen, the Shanghai Securities News said. Source: Reuters
Statoil to Develop LNG Projects CNPC
Norway's Statoil will cooperate with China National Petroleum Corp (CNPC), China's largest oil producer, to develop a liquefied natural gas (LNG) projects, a senior Statoil official said. According to reports, Ole-gohan Lydersen, vice-president of Statoil International EMP Co, said at an industry conference here that both sides will also cooperate on domestic and international oil and gas exploration. CNPC is in talks with Iran over the project and is expected to sign a seven-year deal soon, according to the official Shanghai Securities News. Source: XFN