Domestic

Ping An buys HK$197m shares in Sino Oil & Gas

(Agencies)
Updated: 2010-12-20 16:37

HONG KONG - Sino Oil and Gas Holdings Ltd said Ping An Insurance (Group) Co of China Ltd bought 4.8 percent of its enlarged share capital in a placement for HK$197 million ($25.4 million), Reuters reported Sunday.

According to Siono Oil, Ping An bought 437 million new shares at HK$0.45 each, an 8.2 percent discount to Friday's closing price.

Related readings:  Ping An in talks to buy cosmetics maker Jahwa  Ping An, SDB shares surge in Shanghai  Ping An chases after growth in clinical trials

Sino Oil and Gas, formerly known as Genesis Energy Holdings, has oil and gas exploration and exploitation operations in the US, China and Australia, the report said.