Sinopecs "Exercise of Sinotecs CB Call Option, Largest Shareholder Stake at 10%"
[Asia Economy Reporter Kwangho Lee] Sinopec announced on the 24th that its largest shareholder, Sinotex, secured 2,061,855 shares through the exercise of a call option on convertible bonds (CB). The conversion price per share is 2,910 KRW. As a result, Sinotex's stake in Sinopec will increase from the previous 7.47% to 10.0%.
Hot Picks Today
As Samsung Falters, Chinese DRAM Surges: CXMT Returns to Profit in Just One Year
- "Most Americans Didn't Want This"... Americans Lose 60 Trillion Won to Soaring Fuel Costs
- Trump: "No Concessions to Iran... They Will Soon Know What's Coming"
- Samsung Union Member Sparks Controversy With Telegram Post: "Let's Push KOSPI Down to 5,000"
- "Why Make Things Like This?" Foreign Media Highlights Bizarre Phenomenon Spreading in Korea
A company official stated, "The 6 billion KRW from Sinotex's call option exercise will resolve the portion previously recorded as debt," adding, "The debt ratio has decreased, improving financial stability."
This content was produced with the assistance of AI translation services.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
