THE Philippine Stock Exchange (PSE) said Thursday it has approved the application of Petron Corp. for the follow-on offering of up to 17 million preferred shares that will be issued in two subseries, Series 4D (PRF4D) and Series 4E (PRF4E) at an offer price of P1,000 each, raising P17 billion.
This second tranche of Petron’s “Series 4” preferred shares shelf registration will consist of a base offering of P13 million preferred shares and an oversubscription option of P4 million preferred shares, subject to the applicable requirements of the Securities and Exchange Commission (SEC), according to the local bourse.Petron was said to have received a copy of the Certificate of Filing of the Enabling Resolution issued by the SEC on June 26, 2024.
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