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China Aviation Oil (Singapore) Controlling Shareholder Completes Restructuring

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China Aviation Oil (Singapore) (SGX:G92) said its controlling shareholder's restructuring was concluded, with China Petrochemical Corp. now holding 100% of China National Aviation Fuel (CNAF), according to a Thursday filing with the Singapore Exchange.

Shares of the physical jet fuel trader were up over 2% in Friday trading.

The restructuring was completed after the State-Owned Assets Supervision and Administration Commission transferred the entire CNAF stake to China Petrochemical.

CNAF retains its 51.3% stake in the company, with China Petrochemical now an indirect controlling shareholder of China Aviation Oil.

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