Sinopec's parent buying back up to HK$136 billion worth of shares in subsidiary
China Petrochemical, parent of Shanghai- and Hong Kong-listed oil giant Sinopec, plans to spend up to about HK$136 billion to buy back a 2 per cent stake in the subsidiary over the next year, in an apparent move to support the mainland’s sagging stock market.
via Business feed http://www.scmp.com/business/companies/article/1348995/sinopecs-parent-buying-back-hk136-billion-worth-shares-subsidiary