CNOOC to start trading in Canada

China largest offshore oil and gas producer, CNOOC announced that the company is to issue shares on the Toronto Stock Exchange (TSX ) Wednesday after receiving the approval from the Canadian Stock Exchange.

The listing was part of the company’s commitments to win Canada’s approval for the acquisition of Nexen Inc, which is the biggest overseas takeover for a Chinese company.

“The listing on the TSX does not involve a new issuance of shares and will not generate additional funds for the company,” Zhong Hua, official of CNOOC said in a statement.