News Snapshot:
By P.R. Venkat Chinese energy company Cnooc Ltd. plans to issue A shares to finance its 35 billion yuan ($ 5.4 billion) oilfield development projects. The company plans to issue up to 2.6 billion new A shares to be traded on the Shanghai Stock Exchange, Cnooc announced on Sunday evening. Cnooc has not disclosed the price at which it intends to sell each share, but based on the closing price of HK $ 8.07 per share (US $ 1.04) traded on the Hong Stock Exchange. Kong, the value of the transaction is said to be around HK $ 21. billion....
