China Aviation Oil to dispose remaining 39% stake in associate via listing-for-sale

SINGAPORE (June 19): China Aviation Oil (CAO) intends to divest its entire remaining 39% stake in its associated company China Aviation Oil Xinyuan Petrochemicals, a limited liability company in China.

As a subsidiary of Chinese state-owned enterprise China National Aviation Fuel Group, CAO says the latest and final disposal of its equity stake in Xinyuan will be made by way of a listing-for-sale through China Beijing Equity Exchange.

This is to ensure adherence to the laws and regulations of the People’s Republic of China concerning the disposal of state-owned assets, says the group in its filing on Tuesday.

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