CHINA OILFIELD (02883.HK): Controlling Shareholder Raises Stake; Holding at ~50.91%

NewTimeSpace News: On 23 September 2026, China Oilfield Services Limited (stock code: 02883) published a voluntary announcement providing an update on the progress of the share increase plan by its controlling shareholder.

Reference is made to the Company's announcements dated 8 April 2025, 9 October 2025 and 2 April 2026 in respect of, among other things, the plan by the Company's controlling shareholder, China National Offshore Oil Corporation (CNOOC Group), to increase its shareholding in the Company (the Current Increase Plan) and its progress and extension. CNOOC Group plans to increase its shareholding in the Company's A shares and H shares by means of centralized bidding through the trading system of the Shanghai Stock Exchange and on-market transactions through the system of The Stock Exchange of Hong Kong, on or before 8 April 2027, with the proposed aggregate amount of increase being not less than RMB300 million (inclusive) and not more than RMB500 million (inclusive).

On 23 September 2026, the Company received a notice from CNOOC Group that CNOOC Group increased its holding by 410,000 A shares (approximately 0.01% of the total issued shares of the Company) through centralized bidding on the Shanghai Stock Exchange system, at an A-share increase amount of approximately RMB4.981 million (excluding taxes and fees), and by 1,850,000 H shares (approximately 0.04% of the total issued shares) through on-market transactions on the Hong Kong Stock Exchange system, at an H-share increase amount of approximately RMB11.9151 million (excluding taxes and fees).

Following the above increase, under the Current Increase Plan CNOOC Group has cumulatively increased its holding by 410,000 A shares, with the cumulative A-share increase amount of approximately RMB4.981 million, and has cumulatively increased its holding by 17,858,000 H shares, with the cumulative H-share increase amount of approximately RMB92.8968 million. As at the date of this announcement, CNOOC Group holds an aggregate of 2,429,117,300 shares of the Company, and its percentage of the total issued shares of the Company has increased from approximately 50.53% before the implementation of the Current Increase Plan to approximately 50.91%. The Company stated that the Current Increase Plan complies with relevant laws and regulations, that it will continue to monitor the implementation and promptly fulfil its information disclosure obligations, and cautioned that the plan may fail to meet expectations due to changes in capital market conditions or other currently unpredictable risk factors.

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