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BUZZ-Sinopec likely to postpone IPO of marketing division - chairman
August 28, 2017 / 11:18 AM / a month ago

BUZZ-Sinopec likely to postpone IPO of marketing division - chairman

** Top Asian refiner Sinopec Corp will likely postpone the planned initial public offering of its fuel marketing division, Chairman Wang Yupu told a media briefing on Monday.

** Earlier timeline to list its fuel marketing business was set for 2017. Chairman did not give a new timeline.

** Sinopec aims to lift natural gas production to 40 billion cubic metres a year by 2020, Wang said.

** Sinopec has mandated six banks to advise on a restructuring of its fuel distribution unit ahead of a planned IPO, Reuters reported in January. (Reporting by Alison Lui; Editing by Edmund Blair)

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