Sinopec Kantons prices shares at HK$6.50 each to raise HK$2.7b

Sinopec Kantons Holdings, a logistics and trading unit of state-owned Sinopec, plans to raise HK$2.7 billion in a stock offering after it priced the shares in the middle of an indicated range.

The crude oil products trader will issue 412.5 million new shares at HK$6.50 apiece, representing a 5 per cent discount to the previous close, according to a term sheet and filing from the Hong Kong bourse on Friday morning.

Sinopec Kantons was offering the shares in an indicative range of HK$6.36-6.63 each, according to a term sheet of the deal seen by Reuters on Thursday.

via Business feed http://www.scmp.com/business/money/market-snapshot/article/1229045/sinopec-kantons-prices-shares-hk650-each-raise-hk27b