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Byline: Amy R. Remo
PUBLICLY LISTED PETROENERGY Resources Corp. targets to raise P684.6 million from a stock rights offer it will conduct by the end of the month.
According to PetroEnergy, the board of the Philippine Stock Exchange approved late last month the companys plan to list additional 136.91 million common shares to cover its 1:1 stock rights offering to all stockholders of record as of June 17.
PetroEnergy said in a filing with the PSE that the shares would be offered to entitled shareholders at a ratio of one new common share for every common share held at P5 apiece.
The rights shares are non-transferrable and not accepted for trading …