PetroChina delists last subsidiary
17 February 2006
PetroChina Company Ltd, the country's largest oil producer, closed its major buyout process of listed subsidiaries with the delisting of Jilin Chemical Industrial Company Ltd from the domestic A share market last Sunday. Jilin Chemical announced it had received valid acceptances in respect of 157,700,200 shares, representing approximately 78.85% of the A-share's nominal value and 4.43% of the company's total shares. When the transaction is complete, PetroChina will hold 97.22% of the total shares of Jilin Chemical and the subsidiary will be delisted according to related regulations.