Sinopec unit readies share move

Sinopec Shanghai Petrochemical, one of nine mainland-listed firms that have still not completed plans to float their non-tradable shares, is making its third attempt to get shareholders' consent for the move in a bid to remove regulatory barriers for equity and bond financing.

The firm, with listings in Shanghai, Hong Kong and New York, is a unit of China Petroleum & Chemical (Sinopec) - the world's second-largest oil refiner - that aims to become the "aircraft carrier" of Sinopec in eastern China.

via Business feed http://www.scmp.com/business/china-business/article/1257410/sinopec-unit-readies-share-move