Sinopec Unit Sells 768.5 Million Dollars of CATL Shares
Sinopec sold 8.5 million shares in battery maker CATL for 768.5 million dollars. The sale was conducted via an accelerated bookbuild process on Wednesday.
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In a significant financial move within the energy and electric vehicle sectors, a subsidiary of the Chinese state-owned oil giant Sinopec has divested a substantial portion of its holdings in the world's largest battery producer. Based on reports emerging from Singapore, Sinopec (Hongkong) Ltd, the Hong Kong-based unit, successfully offloaded 8.5 million H shares in CONTEMPORARY AMPEREX TECHN-H.
