PetroChina to Invest 4.2 Billion Yuan in Kunlun Capital Increase
MT Newswires Live
Yesterday
PetroChina (HKG:0857, SHA:601857) will invest 4.2 billion yuan in a capital increase of Kunlun Capital alongside its parent China National Petroleum, or CNPC, according to an Aug. 28 Hong Kong bourse filing.
CNPC will contribute 7.4 billion yuan, bringing the total capital increase to 11.6 billion yuan.
PetroChina's stake in Kunlun Capital will rise to 32.2% from 29%, while CNPC's stake will increase to 56.6% from 51%.
The investment will support Kunlun Capital's private equity funds and external equity investments as PetroChina pursues its innovation and green, low-carbon strategies.
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