Petron raises P10B from its Perpetual Preferred Shares Series 2 issuance

Petron Corporation (PCOR) marked the listing of its Perpetual Preferred Shares Series 2 issuance with a bell ringing ceremony at the Philippine Stock Exchange (PSE). PCOR was able to raise P10 billion from the share sale. Dividends on the preferred shares are at a fixed rate of 6.3000% per annum for the Series 2A, and 6.8583% per annum for the Series 2B.

“We are definitely starting this month on a bullish note with this listing ceremony. On behalf of the Philippine Stock Exchange, I would like to congratulate Petron Corporation on the listing of its Perpetual Preferred Shares Series 2. This capital raising activity is a testament to the confidence that the company has on our market,” said PSE Chairman Jose T. Pardo in his welcome remarks during the bell ringing ceremony.

Shown in the photo are: (L-R) Petron CFO and SVP Emmanuel Eraña; Petron Director Atty. Romela Bengzon; Petron Director Jose De Jesus; Petron President Lubin Nepomuceno; Petron Chairman & CEO Ramon S. Ang; PSE Chairman Jose T. Pardo; PSE President and CEO Hans B. Sicat; PSE Directors Amor Iliscupidez and Eddie T. Gobing.