CPEC: Plans to raise no more than 5.913 billion yuan through a private placement to its controlling shareholder, China National Petroleum Corporation

CPEC announced that the company plans to raise no more than 5.913 billion yuan through a private placement to its controlling shareholder, China National Petroleum Corporation. The issue price is 3.53 yuan per share, with a total issuance of 1.675 billion shares. After this issuance, the company's controlling shareholder will still be China National Petroleum Corporation, and the actual controller will remain the State-owned Assets Supervision and Administration Commission of the State Council. The raised funds will be used for oil and gas storage and transportation project construction and to supplement working capital