Tuesday, July 10, 2012

Sinopec purchased

This morning I added a few more shares in Sinopec (HK:386) to the portfolio. In spite of  the policy based losses on the refining business and the threat of a cut to the dividend, the company still offers an acceptable level of value at current prices. Any improvement on the refining side would be expected to see a material re-rating.

I paid HK$6.50 for the additional shares.

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