Phoenix Petroleum seeks SEC nod to raise P5.5B

PHOENIX Petroleum Philippines Inc. is seeking the green light from the Securities and Exchange Commission (SEC) to sell preferred shares and short-term commercial papers (STCP) with a combined amount of up to P5.5 billion.

In two regulatory filings, Phoenix noted it intends to raise up to P2 billion from 20 million preferred shares priced P100 each and P3.5 billion from STCP.