CHK Oil (HKG:0632) has completed the settlement of a HK$5 million loan from controlling shareholder Xin Hua Petroleum (Hong Kong) through the allotment and issue of 12,048,192 shares at HK$0.415 apiece, a Thursday filing with the Hong Kong bourse said.
The shares represent around 1.39% of the oil and gas business company's enlarged issued share capital.
Xin Hua Petroleum (Hong Kong) now owns a 67.67% equity stake in CHK Oil.
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