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PETROCHINA HIRES UBS SECURITIES FOR SHANGHAI STOCK SALE.
BEIJING, July 2 Asia Pulse - PetroChina Company Limited (PetroChina) (SEHK:0857) has hired UBS Securities Co. to help arrange its A share public offering in Shanghai this year, according to sources close to the deal.
UBS Securities Co., the China venture of Europe's largest bank in terms of assets, would probably co-underwrite the estimated 56 billion yuan (US$7.4 billion) PetroChina issue with CITIC Securities Co., China Galaxy Securities Co. Ltd. and China International Capital Co.
Ltd., said a source, adding it could be the biggest stock sale in the country this year.
China's largest oil producer plans to offer up to four billion shares to raise funds for overseas acquisitions, exploration activities and building up of refinery capacity.
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