China National Offshore Oil Corporation Limited has announced that it is to become a component Hang Seng China Enterprises Index as of 5 March 2018.
The decision to make CNOOC part of the Hang Family of Indexes was revealed as part of the HSCEI results of its quarterly review.
Prior to this announcement, CNOOC has been included as constituents in the Hang Seng Index, Hang Seng Index – Commerce & Industry, Hang Seng China-Affiliated Corporations Index, Hang Seng Global Composite Index and Hang Seng Stock Connect Hong Kong Index.
The Hang Seng firm claim that this move is a ‘positive signal’ that CNOON’s stock performance and market value has been recognised.
Mr. Yuan Guangyu, CEO of CNOOC, said: “This inclusion reflects investor confidence in the Company, and it proves the market has great expectations for us. We will strive to pursue valued growth, improve production efficiency and bring better returns for our shareholders.”
Mr. Yang Hua, chairman of CNOOC, said: “Management will focus on fundamental business operation and fulfill our commitment to the market. We will carry out our established business objectives and strategies as always.
“We remain committed to corporate strategy and will continue to make progress to create greater value for our shareholders.”