In a disclosure at the Philippine Stock Exchange, the oil company said that the Securities and Exchange Commission has given its pre-effective approval for the registration of 15 million shares, at ₱1,000 a piece.
“The SEC has given its pre-effective approval (and it has issued the corresponding pre-effective letter dated May 17, 2019, a copy of which has been submitted to the Listings Department of the Philippine Stock Exchange) for the registration of 15 million perpetual preferred shares, with an oversubscription option of up to 5 million perpetual preferred shares, at an issue price of P1,000 per share, with the relevant registration statement to be rendered effective subject to the completion of certain requirements,” Petron said.
It added that the company has been advised to have the offer period from June 3 to June 10, and to have it listed by June 25.
But this is not yet set in stone.
“We advise that the Company is scheduled to file with the Securities and Exchange Commission today a revised prospectus which will include, among others, the above amended time schedule,” Petron said.
Metro Manila (CNN Philippines, May 21) — Petron Corporation will be offering 15 million perpetual preferred shares soon.
