This is the largest A-share listing by an energy company in the last 15 years

Davis Polk advised CNOOC Limited (CNOOC) in connection with its initial public offering and listing on the Shanghai Stock Exchange. The gross proceeds from the offering amount to approximately RMB28.08 billion (US$4.38 billion) prior to the exercise of the over-allotment option and RMB32.29 billion if the over-allotment option is exercised in full. This is the largest A-share listing by an energy company in the last decade and half.  

CNOOC is the largest producer of offshore crude oil and natural gas in China and one of the largest independent oil and gas exploration and production companies in the world. CNOOC’s securities are also listed on the Hong Kong Stock Exchange.

The Davis Polk corporate team included partner Yang Chu, counsel Vanessa Chan and associates Jennifer Ng, Edwin Lee and Mandy Chan. Members of the Davis Polk team are based in the Hong Kong office.

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