A total of 26 Equity Offering deals (pending and completed) were announced in the Oil & Gas of China, in the last twelve months resulting in a total deal value of over $15,543.6 million. In the LTM period, April 2022 turned out to be the most prolific in terms of deal size, with a total deal value of $4,566.8 million, resulting in an average deal value of $2,283.4 million during that month. On the other hand, the month of June 2022 was the most prolific in terms of deal volume, recording a total of 4 deals, resulting in an average deal value of $214.2 million during that month.
Of the 26 deals, the deal secured between China Huarong Asset Management Co Ltd; China Life Insurance Company; ICBC Financial Asset Investment Co., Limited and CNOOC Ltd, was the largest Equity Offering deal in the China Oil & Gas sector, which was valued at $624.9 million and was completed on September 26, 2021. The second-largest deal was between Primavera Capital Group and Envision Energy Ltd, while the third-largest deal was between CICC Financial Trading Limited; HHLR Fund; YHG Investment, LP and Xinyi Energy Holdings Ltd. The Primavera Capital Group-Envision Energy Ltd deal and the CICC Financial Trading Limited; HHLR Fund; YHG Investment, LP-Xinyi Energy Holdings Ltd deal were valued at $600.0 million and $99.6 million, respectively. The fourth-largest deal was between Jinko Solar Co Ltd-Sichuan Yongxiang Energy Technology Co., Ltd. valued at $70.3 million, whereas the deal between Hangzhou Jinyan Yihou Equity Investment Partnership; Muyuan Industrial Group Co., Ltd; Song Sigen; Wolong Electric Drive Group Co., Ltd-Zhejiang Longneng Power Technology Co. , Ltd valued at $64.9 million was the fifth-largest deal.
Cumulatively, the top five deals amounted to $1,459.7 million and accounted for nearly 9.39% of the total deals (by value) announced during the last twelve months.
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