PetroChina expects A-share listing in Shanghai on Nov. 5_财经新闻

PetroChina expects A-share listing in Shanghai on Nov. 5

文章来源：文章作者：发布时间：2007-10-22 07:38 字体： [大中小]　进入论坛

(单词翻译:双击或拖选)

BEIJING, Oct. 22 - PetroChina, the country's largest oil and gas producer, announced on Sunday it would expect the A-share listing on the Shanghai Stock Exchange on Nov. 5.

The oil giant said it would start preliminary price inquiry¹ for its initial public offering from Oct. 22 to 24 to set its IPO price range.

The company said it has been approved by the country's securities watchdog to sell up to four billion shares on the Shanghai bourse.

It expected to raise 37.77 billion yuan (about 5 billion U.S. dollars) from the IPO, according to the company's prospectus² filed to the securities watchdog.

Its IPO price is scheduled to be announced on Oct. 30 following subscriptions³ on Oct. 25 and 26.

Experts said the soaring oil prices in the international market may drive up PetroChina's offering prices.

PetroChina said it would use 6.84 billion yuan and 5.93 billion yuan respectively to boost production capacity at its Changqing and Daqing oil fields. A total of 1.5 billion yuan will be used to build production facilities at Jidong field, the country's biggest.

It also plans to invest 17.5 billion yuan in upgrading its Dushanzi oil refinery⁴ and ethylene facilities and 6 billion yuan in expanding an ethylene plant in Daqing, in northeast China.

Daqing, one of China's largest oil fields, produced more than 43 million tons of crude oil last year, accounting⁵ for almost 25 percent of the nation's total. Changqing produced more than 10.5 million tons of oil in 2006.

Jidong Nanpu Oilfield, the largest oil discovery by PetroChina in four decades, will have an annual output of 10 million tons by 2012, according to the company's plan.

Citic Securities Co., UBS Securities Co. and China International Capital Corp are arranging the share issue.

PetroChina began trading in Hong Kong and its American Depository Receipts were listed on the New York Stock Exchange in 2000.

PetroChina's A-share listing comes after the return of such red-chips as China COSCO Holdings, China Construction Bank and China Shenhua Energy Company, the country's largest coal producer.

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收听单词发音

1 inquiry
n.打听，询问，调查，查问
参考例句：
Many parents have been pressing for an inquiry into the problem.许多家长迫切要求调查这个问题。 The field of inquiry has narrowed down to five persons.调查的范围已经缩小到只剩5个人了。

2 prospectus
n.计划书；说明书；慕股书
参考例句：
An order form was included with the prospectus.订单附在说明书上。 The prospectus is the most important instrument of legal document.招股说明书是上市公司信息披露制度最重要法律文件。

3 subscriptions
n.（报刊等的）订阅费( subscription的名词复数 )；捐款；（俱乐部的）会员费；捐助
参考例句：
Subscriptions to these magazines can be paid in at the post office. 这些杂志的订阅费可以在邮局缴纳。来自《简明英汉词典》 Payment of subscriptions should be made to the club secretary. 会费应交给俱乐部秘书。来自《简明英汉词典》

4 refinery
n.精炼厂，提炼厂
参考例句：
They built a sugar refinery.他们建起了一座榨糖厂。 The purpose of oil refinery is to refine crude petroleum.炼油厂的主要工作是提炼原油。

5 accounting
n.会计，会计学，借贷对照表
参考例句：
A job fell vacant in the accounting department.财会部出现了一个空缺。 There's an accounting error in this entry.这笔账目里有差错。

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