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The Philippine Stock Exchange said Thursday it approved the P17-billion preferred shares offering of oil refiner Petron Corp.
It said the offering would run from Sept. 5 to Sept. 13. The shares will be listed on the main board of the PSE on Sept. 23, 2024. BDO Capital & Investment Corp. will act as sole issue manager, while Bank of Commerce, BDO Capital, China Bank Capital Corp., Philippine Commercial Capital Inc., PNB Capital and Investment Corp. and SB Capital Investment Corp. are the joint lead underwriters and book runners.Petron is the country’s biggest oil company with a 180,000-barrel-per-day refinery in Bataan. It has a combined service station network of about 2,600 outlets in the Philippines and Malaysia.
Petron is one of the four companies that are planning to raise fresh capital through the capital markets via preferred shares offering.
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