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Sovereign Wealth Funds Briefing - Categorized | Asset Allocation, Financials

CIC, Sinopec consider Sunshine IPO

Posted on 13 February 2012

Sovereign wealth fund China Investment Corp (CIC) is considering investing $150 million in Canadian oil explorer Sunshine Oilsands Ltd’s initial public offering in Hong Kong, said two people with knowledge of the matter.
China Petroleum & Chemical Corp, or Sinopec Corp, is also considering buying about $150 million of the shares offered in the IPO, said the people, who declined to be identified. Sunshine Oilsands, based in Calgary, plans to sell about $350 million in stock to so-called cornerstone investors, the people said………………………………………..Full Article: Source


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