PetroChina Company Ltd, the country's largest oil producer, closed its major buyout process of listed subsidiaries with the delisting of Jilin Chemical Industrial Company Ltd from the domestic A share market last Sunday. Jilin Chemical announced it had received valid acceptances in respect of 157,700,200 shares, representing approximately 78.85% of the A-share's nominal value and 4.43% of the company's total shares. When the transaction is complete, PetroChina will hold 97.22% of the total shares of Jilin Chemical and the subsidiary will be delisted according to related regulations.
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