Sinopec Engineering Submits Listing Application for $1.5B HK IPO
HONG KONG - Sinopec Engineering (Group), an engineering unit of state-owned China Petrochemical Corp, has submitted a listing application to Hong Kong's stock exchange for a $1.5 billion initial public offering, two people with direct knowledge of the matter told Dow Jones Newswires Tuesday.
The plan comes as the window for fundraising has reopened, with Hong Kong's benchmark Hang Seng Index gaining 5% since December on the back of optimism over China's economic growth and abundant market liquidity.
Copyright (c) 2012 Dow Jones & Company, Inc.
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