Sunshine Oilsands To Raise $1B In IPO

Canadian oil-sands company Sunshine Oilsands is seeking to raise about $1 billion through an IPO in Hong Kong.

Canadian oil-sands company Sunshine Oilsands is seeking to raise about $1 billion through an IPO in Hong Kong, The Wall Street Journal reports. The listing will take place in the fourth quarter of 2011.

BOC International, Deutsche Bank and Morgan Stanley are managing the sale, adds Bloomberg. The Calgary-based company received $236 million of funding from China Life Insurance, Bank of China Group Investment, Cross-Strait Common Development Fund and other investors in March this year.

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