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business.inquirer.net PSE OKs Phoenix Petroleum’s new P7B share offering

The Philippine Stock Exchange has approved a plan by Davao businessman Dennis Uy-led Phoenix Petroleum Philippines Inc. to raise as much as P7 billion from a public offering of a new series of perpetual preferred shares.

Based on the preliminary term sheet posted by the PSE, the follow-on offering will consist of 5 million primary preferred shares at an offer price of P1,000 per share. In the case…
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