Asia

Cash raising for Phoenix Petroleum

 

Manila: Phoenix Petroleum Philippines raised P1.2bn in additional equity yesterday via the sale of 130m shares by the oil company’s major shareholder, Phoenix Petroleum Holdings. The shares were sold at P9.40 each. 

Phoenix Petroleum Holdings now has 41% control of Phoenix Petroleum Philippines, down by 12%.

Phoenix Petroleum paid P1.4bn last October to buy out Chelsea Shipping.  [13/03/13]

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