Class A share first order increase loan Sinopec: Controlling shareholder receives 700 million yuan credit for increase plan
2024-10-20 08:57:33
First order of shares increase in holdings loan China petrochemical holding shareholder grant of 100 million yuandesk3cryptocurrencydesktopCrypto News
On October 20th, Sinopec announced that Sinopec Group, the controlling shareholder of the company, signed a credit agreement with the Bank of China joint stock company to obtain a credit line of 700 million yuan. The special project is used for Sinopec Group to increase its holdings of Sinopec's class A shares through centralized bidding transactions in this round of holdings and the future new phase of holdings. Correspondingly, the source of funds for this round of holdings of class A shares will be changed from "the equity fund of Sinopec Group and its wholly-owned subsidiaries" to "the equity fund of Sinopec Group and its wholly-owned subsidiaries and the loans of Financial Institution Group". Sinopec Group expects to increase its holdings of the company's class A shares by no less than the credit line it has obtained in the current round of holdings and the future new phase of the holdings plan.
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