By Marisa Wong
Los Angeles, Nov. 8 – Phoenix Petroleum Philippines, Inc. said it raised PHP 7 billion from its issuance of series 4 preferred shares.
The offering, which ran from Oct. 21 to Oct. 29, was more than three times oversubscribed, according to a press release.
China Bank Capital Corp. acted as issue manager, bookrunner and, along with PNB Capital and Investment Corp., joint lead underwriter.
The company initially announced plans to issue PHP 5 billion of perpetual preferreds, as previously reported.
The oil company is based in Davao City, Philippines.
| Issuer: | Phoenix Petroleum Philippines, Inc.
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| Issue: | Series 4 preferred shares
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| Amount: | PHP 7 billion
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| Maturity: | Perpetual
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| Bookrunner: | China Bank Capital Corp.
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| Joint lead manager: | PNB Capital and Investment Corp.
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| Offer period: | Oct. 21-Oct. 29
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| Listing date: | Nov. 7 on Philippine Stock Exchange
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