China oil giant CNOOC plans $5.5 bln Shanghai listing amid heightened geopolitical risks

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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.