China Aviation Oil: Sinopec Becomes Indirect Controlling Shareholder After CNAF Restructuring

SGX Filings

Jul 09

China Aviation Oil (Singapore) Corporation Ltd said its controlling shareholder, China National Aviation Fuel Group (CNAF), has completed a restructuring that transfers CNAF’s entire equity stake from the State-owned Assets Supervision and Administration Commission of the State Council to China Petrochemical Corporation (Sinopec).

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Following the transfer, Sinopec now holds 100% of CNAF, which in turn owns 51.31% of China Aviation Oil’s issued shares (excluding treasury shares). As a result, Sinopec is deemed an indirect controlling shareholder of the Singapore-listed jet-fuel trader.

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The company added that Singapore’s Securities Industry Council has confirmed Sinopec is not required to make a mandatory takeover offer under Rule 14.1 of the Singapore Code on Take-overs and Mergers because of the restructuring.

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At an extraordinary general meeting on Jul, 9 2026, shareholders approved an expanded interested person transactions general mandate to cover additional dealings between CNAF and Sinopec. The mandate took effect the same day.

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China Aviation Oil said the restructuring is not expected to have any material impact on its normal business operations.

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