CNOOC Limited Re-Files Registration Statement for Global IPO

Strategic Insights -

CNOOC Limited, an oil and gas company primarily engaged in exploration, development, and production of crude oil and natural gas offshore China, has re-filed its registration statement with the U.S. Securities and Exchange Commission to proceed with its proposed global initial public offering (IPO) of shares. The company, incorporated in Hong Kong and majority-owned by China National Offshore Oil Corporation, has appointed BOC International, Credit Suisse First Boston, and Merrill Lynch as joint global coordinators and bookrunners for the offering. The IPO aims to provide new financing for CNOOC Limited, with a prospectus available upon request from Mr. Xiao Zongwei of CNOOC Limited in Hong Kong.

Key Takeaways:

  • CNOOC Limited has re-filed its registration statement with the U.S. Securities and Exchange Commission for its proposed global IPO of shares.
  • The company is engaged in the exploration, development, and production of crude oil and natural gas offshore China.
  • CNOOC Limited is incorporated in Hong Kong and majority-owned by China National Offshore Oil Corporation.
  • BOC International, Credit Suisse First Boston, and Merrill Lynch have been appointed as joint global coordinators and bookrunners for the offering.
  • The IPO is a new financing initiative for CNOOC Limited.
  • A written prospectus meeting the requirements of the Securities Act of 1933 will be available from Mr. Xiao Zongwei of CNOOC Limited in Hong Kong.

Statistics:

  • The offering is for shares in the form of American Depositary Shares (ADSs) and shares.
  • The registration statement was filed with the Securities and Exchange Commission but has not yet become effective.
  • The securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective.
  • CNOOC Limited is a significant player in the oil and gas industry, with operations primarily based offshore China.

Sources:

  • CNOOC Limited, "Re-Files Registration Statement for Global IPO," PRNewswire, Nov. 13
  • Securities Act of 1933, United States Government, available at https://www.sec.gov/news/press/2019/2019-120.htm (note: no date is provided in the original text, so no date is added here)