CNPC (HK) to Raise US$480 MLN via New Share Offering      

On December 1st, 2009 CNPC (Hong Kong) Limited (HK: 0135) was authorized to raise US$480 million via new share offering. Upon completion of the share offering, CNPC's share holds proportion decreased to 53.23% from 58.57%.
   The net proceeds of the subscription is approximately US$470 million, which are intended to be used to finance potential acquisition of downstream gas distribution assets, capital expenditures, as well as for general corporate purposes, including working capital.