Sinopec to make $3.1 bln from H-share placement sculpted babes. Korean horny beauties.

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Beijing (CNS) -- China Petroleum and Chemical Corp (Sinopec) has entered into an agreement to place more than 2.8 billion new H-Shares at a price of HK$8.45(US$1.09) each, Sinopec said Tuesday morning.

The new shares account for 14.5 percent of all its Hong Kong-listed H-shares, and 3.2 percent of the company as a whole. Sinopec is expected to raise nearly HK$24 billion (US$3.1 billion) if all the new shares are sold.

The placement is to be completed by February 14, 2013, and Sinopec said it intends to use the money raised for daily operations.

Sinopec is one of the largest integrated energy and chemical companies in China.