Philippines’ Petron resets timeline for series 4 preferred offering

Chicago, June 13 – Petron Corp. revised the offering period for the sale of its series 4 preferred shares, according to a filing.

The offer period will now be June 15 to June 27.

The target listing date is July 7.

As previously reported, the company is offering 6.7079% series 4A preferreds, 6.7972% series 4B preferreds and 7.0861% series 4C preferreds, at PHP 1,000 each.

The total offering size is 12.5 million with an oversubscription option for 10 million shares.

China Bank Capital Corp. is the issue manager, the joint lead underwriter and bookrunner with Bank of Commerce, Philippine Commercial Capital Inc., PNB CIC and SB CIC.

Petron is an oil company controlled by conglomerate San Miguel Corp. Both companies are based in Mandaluyong City, Philippines.

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