CNPC financial assets reorganization was successfully completed in February 2017, and the listed company was renamed to CNPC Capital Company Limited (CNPC Capital). After its listing, CNPC Capital becomes one of the most fully licensed financial companies in China, covering finance company, banking, financial leasing, trust, insurance, insurance brokerage, securities and other financial services. CICC played an important role in the transaction as Sole Financial Advisor and Joint Lead Underwriter.

The transaction is the largest ever assets injection, reorganization and listing deal on the A-share market with RMB75.509 Bn worth of exchanged-in assets, RMB462 mm worth of exchanged-out assets and a supporting fundraising of RMB19.0 Bn. The stakes of 10 financial license assets – including finance company, banking, financial leasing, trust, life insurance and property insurance – were exchanged in in this transaction, the largest number ever on the A-share M&A market. The transaction realized the main business transformation of the listed company and promoted the connection between CNPC’s financial business and the market, which would facilitate the mixed-ownership reform objectives and set an example for SOE reform and the integration of industrial-finance capital.