Phoenix Petroleum Raises Php2 Billion from Preferred Share Sale

Phoenix Petroleum Philippines, Inc. held a bell ringing ceremony at the Philippine Stock Exchange (PSE) on Friday to list its Series 3A and 3B preferred shares. The oil company was able to raise P2 billion from its follow-on offering.

Phoenix Petroleum

“I would like to congratulate Phoenix Petroleum Philippines, Inc. on its follow-on offering. The proceeds of this fund raising activity will support Phoenix Petroleum in its aggressive expansion program that includes the construction of additional retail stations nationwide and storage facilities in Cebu and General Santos,” said PSE Chairman Jose T. Pardo in his welcome remarks during the ceremony.

Shown in the photo are: (L-R) Phoenix Petroleum Chairman Domingo Uy; Phoenix Petroleum President and CEO Dennis Uy; PSE Chairman Jose T. Pardo; PSE Director Ma. Vivian Yuchengco; PSE Chief Operating Officer Roel A. Refran and PSE Director Alejandro T. Yu. –