Petron lists P20B worth of preferred shares

ABS-CBN News

Posted at Jun 25 2019 10:20 AM | Updated as of Jun 25 2019 08:16 PM

MANILA – Petron Corp on Tuesday listed P20 billion worth of preferred shared at the Philippine Stock Exchange.

Proceeds from the sale will be used to redeem Petron’s outstanding Series 2A preferred shares issued in 2014, short-term debt repayment and other purposes, the oil firm said in a disclosure. 

“We will continue to pursue our strategic goals and follow through with our investment despite volatility in the global market. We remain committed to fueling economic growth and bringing greater value to shareholders," Petron president and CEO Ramon Ang said. 

- with a report from Michelle Ong, ABS-CBN News