CHINA

摘要

China petroleum & chemical corp (Sinopec) has sent out a request for proposals for a proposed multi-billion dollar Hong Kong IPO of its retail unit, according to people familiar with the plan. Responses were due by the end of last week. In 2015, Sinopec sold a 29.99% stake in its retail business to 25 domestic and foreign investors for an aggregate amount of Rmb107bn (US$17.2bn). The investors include China Cinda Asset Management, China Asset Management, Harvest Fund Management, ICBC Credit Suisse Asset Management, China Life Insurance, as well as investment vehicles of Tencent Holdings, Fosun International and Haier Electronics Group.