China approves IPO application of CNOOC Limited

CNOOC Limited can issue no more than 2.99 billion shares in its IPO

Beijing, China | Xinhua | China’s securities regulator has approved the initial public offering (IPO) application of CNOOC Limited.

CNOOC Limited will be listed on the A-share market, the China Securities Regulatory Commission said in a statement on Wednesday.

The commission said that the oil company can issue no more than 2.99 billion shares in its IPO. The company should strictly follow its prospectus as well as its issuance and underwriting plan.

Its parent company China National Offshore Oil Corporation (CNOOC), headquartered in Beijing, is the country’s largest producer of offshore crude oil and natural gas.

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Xinhua