|
|
Article: China National Offshore Oil Lists On NYSE
- Article from:
- Xinhua News Agency
- Article date:
- February 28, 2001
CopyrightCopyright 2001 Xinhua News Agency. Provided by ProQuest LLC. (Hide copyright information)
|
China National Offshore Oil Corp. (CNOOC) Ltd., the country's
third largest oil producer, listed shares on New York Security
Exchange Tuesday, raising 1.26 billion U.S. dollars for its
operation expansion.
China's flagship offshore oil company issued 82 million American
depository receipts (ADRs), each is equal to 20 common shares,
priced at 15.40 dollars for each ADR. The initial public offering
was successful, with the company closing at 16.12 dollars in the
first session, up 0.72 cents, or nearly 5 percent over its offering
price.
"While Wall Street ended broadly lower today, the rise in our
stock represents investors' confidence in our management, our
operation outlook." said Fu Yucheng, ...