Energy: Sinopec to resume trading

(Reuters)
Updated: 2006-09-28 16:20

Sinopec Corp. Asia's largest oil refiner, plans to resume trading on October 10 after it received shareholder approval to convert non-tradable, state-held shares into regular shares tradable on stock markets.

The company's A-shares, including 784 million bounus shares, would resume trading on the Shanghai Stock Exchange after a week-long national holiday in China's equity market, the company said in a statement published in the official China Securities Journal.

Sinopec's Shanghai-listed A-shares have been suspended since Sept. 15, while the company awaited approval to convert non-tradable, state-held shares into regular shares tradable into stock market.

(For more biz stories, please visit Industry Updates)