Following a request made by PetroChina, China's largest oil and gas producer, Hong Kong-listed, to the Stock Exchange of Hong Kong Limited, trading in the Company's H shares had been suspended with effect from 9:30 a.m. on 31 August 2005. The Company issued a formal announcement concerning about a placing of H shares under the general mandate granted to the Board of Directors at the annual general meeting of the Company on 26 May 2005 to issue up to 20% of the aggregate nominal amount of the Company's H shares in issue on that date, being not exceeding 3,516,483,600 H shares. PetroChina Company Limited (the "Company") has assigned Citigroup Hong Kong Futures and Securities Limited, Deutsche Bank and Goldman Sachs as joint bookrunners and underwriters for the placement of its new H shares. The new placement, effective from September 1st, 2005, set an aggregate of US$2.44 billion in new overseas-listed foreign-invested shares at the top limit of the pricing range of HK$ 6.00 per initial placing share. After the placement option is exercised in full, the total capital raised by PetroChina reached US$ 2.715 billion. To maintain the stability of stock prices, the structure for the placement has been chosen with an option for additional H shares. The Company's initial placement shares amounted 3.16 billion of H shares, representing approximately 18% of the existing issued H share capital of the Company. If the placement option is exercised in full, the Placement Shares will number a total of 3.52 billion H shares, representing approximately 20% of the existing issued H share capital of the Company.
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