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Herbert Smith Freehills advises Sinopec Oilfield Service Corporation on US$572 million H-share placement

26 January 2018 | Beijing, Hong Kong
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Leading global law firm Herbert Smith Freehills has advised Sinopec Oilfield Service Corporation on its private placement of 3.3 billion H-shares on the Hong Kong Exchange. 

The H-share placement was made to Sinopec Century Bright Capital Investment Limited and China Structural Reform Fund Corporation Limited, and was completed on 24 January after regulatory approvals were received. It injects close to US$572 million into one of the world' largest oilfield service companies.

This is Sinopec Oilfield service's largest H-share placement to date and the funds raised will be used to supplement the company's working capital.

Beijing partner Tom Chau led the team advising Sinopec Oilfield Service on the H-share placement, assisted by senior associates Arthur Xu and Shell Chen.

The four banks used to place the shares were CICC, Deutsche Bank AG, Guotai Junan Securities and CLSA Limited.

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Sally Greig, Head of Communications, Asia

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Maribeth Janikowski, Communications Manager

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