• STOCKWATCH

    Pilipinas Shell flat on PSEi debut

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    OIL refiner Pilipinas Shell Petroleum Corp. [SHLPH] closed flat on its trading debut on the Philippine Stock Exchange (PSE) on Thursday amid sluggish markets as the world braces for next week’s US presidential elections.

    The stock closed flat at P67.20 per share, up by a marginal 0.30 percent or 20 cents from the offer price of P67 each, as fears of a possible Trump presidency weighed on investor sentiment both here and overseas.

    Shell’s initial public offering of 291 million common shares was oversubscribed and generated for the oil refiner some P18.4 billion in fresh funds.

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