{"id":329546,"date":"2024-09-19T13:59:07","date_gmt":"2024-09-19T05:59:07","guid":{"rendered":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/?p=329546"},"modified":"2024-09-19T13:59:08","modified_gmt":"2024-09-19T05:59:08","slug":"trade-the-news-pcor-raises-p16-8-billion-from-sale-of-preferred-shares","status":"publish","type":"post","link":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/trade-the-news-pcor-raises-p16-8-billion-from-sale-of-preferred-shares\/","title":{"rendered":"Trade the News: PCOR raises P16.8 Billion from sale of preferred shares"},"content":{"rendered":"\n
Potential Impact of this News<\/strong><\/td>POSITIVE on the stock price<\/strong><\/td><\/tr>
Company<\/strong><\/td>Petron Corp.<\/td><\/tr>
Stock Code<\/strong><\/td>PCOR<\/td><\/tr>
Long-term Recommendation on the Stock<\/strong><\/td>Buy<\/td><\/tr>
1-Year Target Price<\/strong><\/td>PHP 4.13<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n
<\/div>\n\n\n\n

The latest preferred share offering of Petron Corp. was well-received by investors, allowing the listed oil company to raise P16.83 billion.<\/p>\n\n\n\n

The shares were offered from Sept. 5 to Sept. 13, consisting of 13 million preferred shares and an oversubscription option of up to four million additional shares, at a share price of P1,000 each.<\/p>\n\n\n\n

The shares are set to be listed on the Philippine Stock Exchange on Sept. 23.<\/p>\n\n\n\n

This offering represents the second tranche of Petron\u2019s shelf registration for up to 50 million preferred shares. In the first tranche, the company offered up to 22.5 million preferred shares.<\/p>\n\n\n\n

Petron tapped BDO Capital & Investment Corp. as the sole issue manager. Bank of Commerce, BDO Capital, Chinabank Capital Corp., Philippine Commercial Capital, Inc., PNB Capital and Investment Corp., and SB Capital Investment Corp. have been designated as joint lead underwriters and joint bookrunners.<\/p>\n\n\n\n

Meanwhile, East West Banking Corp., First Metro Investment Corp., and RCBC Capital Corp. were tapped as the selling agents for the offer<\/p>\n\n\n\n

(News Source: Business World<\/a>)<\/em><\/p>\n\n\n\n

<\/div>\n\n\n\n

This report is prepared by PinoyInvestor\u2019s partner broker below. Find out more about our partner brokers<\/a> and sign up to avail their complete trading brokerage services.<\/em><\/em><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Take advantage of the price opportunity that might arise when the news hits. Trade the news!<\/p>\n","protected":false},"author":11,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1371],"tags":[],"class_list":["post-329546","post","type-post","status-publish","format-standard","hentry","category-trade-the-news","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-33"],"_links":{"self":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/329546","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/comments?post=329546"}],"version-history":[{"count":1,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/329546\/revisions"}],"predecessor-version":[{"id":329548,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/329546\/revisions\/329548"}],"wp:attachment":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/media?parent=329546"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/categories?post=329546"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/tags?post=329546"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}