Petron raises P20B from shares offerhome/Business/Corporate News/Petron raises P20B from shares offerPETRON Corp. has generated P20 billion in fresh funds from its shares offer on the back of strong investor demand. Preferred shares are cumulative, non-voting, non-participating, non-convertible and peso-denominated. Petron had said proceeds would be used to redeem Series 2A preferred shares worth P7.12 billion; repay its P6.96-billion short-term loanfrom the Bank of the Philippine Islands; and finance other general corporate purposes. Petron refines crude oil, and markets and distributes refined petroleum products. Petron shares increased by 8 centavos or 1.35 percent to finish at P6 apiece on Monday.
Source: Manila Times June 24, 2019 16:07 UTC