SHANGHAI: CNOOC Ltd, China's top offshore oil and gas producer, plans to raise 35 billion yuan ($5.5 billion) via a public share sale in Shanghai next month to fund oil and gas excavation as Beijing prioritises energy security amid rising geopolitical risks.
State-owned CNOOC, which is blacklisted by Washington, said in a prospectus on Thursday it plans to sell 2.6 billion shares on April 12 and list thereafter on the Shanghai Stock Exchange.
Already a subscriber? Log in
The Star Festive Promo: Get 35% OFF Digital Access
Cancel anytime. Ad-free. Unlimited access with perks.
