Sinopec issued 23 billion convertible bonds initial conversion price 9.73 yuan

Sinopec (600028) SH) today, the company publicly issued a shares convertible bonds (hereinafter referred to as "petrochemical transfer debt") has been approved by the SFC.　　The total issue of 23 billion-yuan convertible bonds, the initial conversion price of 9.73 yuan/shares, the starting date for the convertible bond issue from the end of the full six months after the first trading day from the expiration date of the convertible bonds (that is, from August 24, 2011 to February 23, 2017). The issue of the petrochemical transfer debt to the issuer in addition to the controlling shareholder of the original A-shares priority placements, the number of convertible bonds that the original a-share shareholder can give priority to, in addition to the controlling shareholder, is the proportion of 3.314-yuan convertible bonds per share, and 1000 yuan/hand is converted into hand number.　　Each 1 hands for one purchase unit. February 17, the company's stock closing price of 9.27 Yuan. BOC International analyst to Sinopec Price six months to see 11.48 Yuan, CIC investment and other analysts see 12 yuan.　　CIC Securities analysts believe that the issuance of convertible bonds, will be the company's stock price catalyst, a brokerage petrochemical analysts said that the news stimulated, Sinopec today's share price may rise. The announcement said that the issue raised funds to be used in Wuhan 800,000 tons/year ethylene project, Anqing branch of the sulfur-containing crude oil plus adaptation and upgrading of oil quality projects, Shijiazhuang refining and petrochemical company oil quality upgrade and crude oil inferior transformation project,　　Yulin-Jinan gas pipeline project and Rizhao-Yizheng crude oil pipeline and ancillary projects. The issue of petrochemical transfer debt does not set the holding term system.　　Investors receive the placement of petrochemical transfer debt on the first day of the listing can be traded, investors can purchase on February 23. The issue of the convertible bond period of six years from the date of issue, that is, from February 23, 2011 to February 23, 2017. Coupon Rate: First year 0.5%, second year 0.7%, third year 1%, fourth year 1.3%, five year 1.8%, six year 2%. The company in the period of 5 trading days after the expiration of this issue of the convertible bond face value of 107% (including the last period of interest) to redeem all the convertible bonds.　　This issue of the convertible bond with the annual coupon payment method.　　The balance portion of the preferential placing (including the waiver of the preferential placement of the original A-share shareholder other than the controlling shareholder) is carried out by means of a combination of the placing of the institutional investor and the online pricing issue through the SSE trading system, if the balance is underwritten by the underwriting group.　　In addition to the controlling shareholder of the original a-share shareholders prior to the allocation of the balance under the net distribution and online distribution of the default amount of distribution is 50%:50%. The priority subscription of the original A-share shareholder other than the controlling shareholder is through the SSE system, placing the code as "704028" and placing the name "petrochemical matching debt".　　In addition to the controlling shareholder of the original A-share shareholders online preferential placement of the amount of less than 1 of the number of subscribed to the principle of rounding. Institutional investors under the net to purchase the lower limit of 50 million yuan, more than 50 million yuan must be 1000million times of integers. The ceiling for the purchase of institutional investors under the net is 11.5 billion yuan.　　Each participating in the network under the purchase of institutional investors should pay a deposit in full, the amount of deposit for its total amount of 20% of the purchase. General social public investors participate in online distribution through SSE trading system. Online distribution of the purchase code for "733028", the purchase referred to as "petrochemical issue debt." The minimum subscription unit for each account is 1 hands. The maximum amount for each account is 11.5 billion yuan, which is not valid for the purchase.