China's CNOOC seeks to raise $5.4b on Shanghai stock exchange

China's CNOOC seeks to raise $5.4b on Shanghai stock exchange

FILE PHOTO: A woman wearing a face mask walks on a pedestrian overpass with an electronic board showing the Shanghai and Shenzhen stock indexes, China, March 13, 2020. REUTERS/Aly Song

China’s state-run offshore oil and gas major CNOOC Ltd said it plans to raise up to 35 billion yuan ($5.41 billion) in a new share issue on the Shanghai stock exchange to fund several key oil and gas projects.