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CHINA PETROLEUM & CHEMICAL CORP (SNP)
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China Petroleum & Chemical Corp : Sinopec Corp. Successfully Completes Placing of New H Shares

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02/14/2013 | 12:40pm CEST

BEIJING, Feb. 14, 2013 /PRNewswire/ -- China Petroleum & Chemical Corporation ("Sinopec Corp." or the "Company") (HKEX: 386; NYSE: SNP; LSE: SNP; CH: 600028) is pleased to announce that, further to its announcement earlier this month, it has successfully completed its placing today of an aggregate of 2,845,234,000 new H Shares (the "Placing Shares") at a price of HKD8.45 per H Share. The Placing Shares represent approximately 3.2% of the number of total issued shares as enlarged after the placing, and approximately 14.5% of the number of H Shares as enlarged after the placing, of Sinopec Corp. The net proceeds from the placing are approximately HK$23,970,100,618. Sinopec Corp. intends to use such net proceeds for general corporate purposes.

The Placing Shares were offered in the United States only to qualified institutional buyers in reliance on an applicable exemption from registration under the U.S. Securities Act of 1933 (as amended) (the "Securities Act") and outside the United States in reliance on Regulation S under the Securities Act. During the 40 days immediately following the completion of the placing, no deposit of the Company's H Shares will be accepted into its ADR program.

This press release is for information purposes only and is not and does not constitute an offer to sell, solicitation of an offer to buy, or the sale of, any of the securities described herein in any jurisdiction. The securities offered have not been and will not be registered under the Securities Act and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act.

About Sinopec Corp.

Sinopec Corp. is one of the largest integrated energy and chemical companies with upstream, midstream and downstream operations in the PRC. Its principal operations include: the exploration and production, pipeline transportation and sale of petroleum and natural gas; the sale, storage and transportation of petroleum products, petrochemical products, synthetic fibre, fertiliser and other chemical products; import and export, as well as import and export agency business of oil, natural gas, petroleum products, petrochemical and chemical products, and other commodities and technologies; and research, development and application of technologies and information.

For additional information about Sinopec Corp., please visit the Company's website at www.sinopec.com.

Forward-looking Statements

This press release contains forward-looking statements. Forward-looking statements give the Company's current expectations or forecasts of future events based on management's beliefs and assumptions using currently available information and expectations as of the date hereof, are not guarantees of future performance and involve certain risks and uncertainties, including those contained in the Company's filings with the Securities and Exchange Commission. Although it believes that the expectations reflected in these forward-looking statements are reasonable, the Company cannot assure you that its expectations will prove correct. Forward-looking statements in this press release relate to, among other things, the closing of the placement and the use of proceeds therefrom. Therefore, actual outcomes and results could materially differ from what is expressed, implied or forecast in such statements. The forward-looking statements speak only as of the date made and, other than as required by law, the Company undertakes no obligation to publicly update or revise any forward- looking statements, whether as a result of new information, future events or otherwise.

    Investor Inquiries:                    Media Inquiries:
    Beijing
    Tel: (8610) 5996 0028                  Tel: (8610) 5996 0028
    Fax: (8610) 5996 0386                  Fax: (8610) 5996 0386
    Email: [email protected]

    Hong Kong
    Tel: (852) 2824 2638                   Tel: (852) 3512 5000
    Fax: (852) 2824 3669                   Fax: (852) 2259 9008
                                           Email: [email protected]

SOURCE China Petroleum & Chemical Corporation


© PRNewswire 2013
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