OREANDA-NEWS. February 20, 2013. China Petroleum & Chemical Corporation (“Sinopec Corp.” or the “Company”) (HKEX: 386; NYSE: SNP; LSE: SNP; CH: 600028) is pleased to announce that, further to its announcement earlier this month, it has successfully completed its placing of an aggregate of 2,845,234,000 new H Shares (the “Placing Shares”) at a price of HKD8.45 per H Share to not more than ten placees, reported the press-centre of Sinopec. 

The Placing Shares represent approximately 3.2% of the number of total issued shares as enlarged after the placing, and approximately 14.5% of the number of H Shares as enlarged after the placing, of Sinopec Corp. The aggregate net proceeds from the placing are approximately HKD 23,970,100,618. Sinopec Corp. intends to use such net proceeds for general corporate purposes.

Chairman of Sinopec Corp., Mr. Fu Chengyu, commented: “We thank the shareholders and investors for their trust and support. This placing marks the first capital-raising activity by the Company in the international capital markets by way of an offering of new shares since its IPO. The placing is instrumental in improving the capital structure and reducing the leverage ratio of the Company, enriching its shareholder base by attracting high calibre institutional investors to participate in the placing, and facilitates the Company's realization of its goal of building a world-class energy and petrochemical company”.

Goldman Sachs (Asia) L.L.C. acted as the global coordinator, bookrunner and placing agent for the placing. The Placing Shares were offered in the United States only to qualified institutional buyers in reliance on an applicable exemption from registration under the U.S. Securities Act of 1933 (as amended) (the “Securities Act”) and outside the United States in reliance on Regulation S under the Securities Act. During the 40 days immediately following the completion of the placing, no deposit of the Company's H Shares will be accepted into its ADR program.

 This press release is for information purposes only and does not constitute an invitation or offer to acquire, purchase or subscribe for securities, nor is it calculated to invite any such offer or invitation. Neither this press release nor any copy thereof may be taken into or distributed, directly or indirectly, in or into the United States (including its territories and dependencies, any State of the United States and the District of Columbia). In particular, this press release does not constitute and is not an offer to sell or a solicitation of any offer to purchase or subscribe for securities in the United States or elsewhere. The securities may not be offered or sold in the United States absent registration or an exemption from registration under the Securities Act. Any public offering of securities to be made in the United States will only be made by means of a prospectus that may be obtained from the issuer or selling security holder and that contains detailed information regarding the issuer and management as well as financial information. There is no intention to make a public offering of the securities referred to in this press release in the United States.