Sinopec wins approval for IPO of retail unit


Opportunity for investors: A Sinopec petrol station in Hong Kong. Sinopec’s retail operations include more than 30,600 fuel stations and nearly 27,000 convenience stores. — EPA

Top oil refiner aims to sell shares of the business in Hong Kong

HONG KONG: Sinopec, China’s top oil refiner, won approval from the country’s cabinet for a long-awaited initial public offering (IPO) of the retail unit that runs its vast chain of gas stations and convenience stores, sources said.

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