(Bloomberg) -- PNOC Energy Development Corp., the
Philippines' largest producer of geothermal energy, said the
government raised 17.1 billion pesos ($372 million) by selling
20 percent of the utility. The company's shares surged.
The 3 billion shares were sold at 5.7 pesos each, PNOC
Energy said in a statement to the stock exchange today.
Investors placed orders for more than six times the stock on
offer, according to two people familiar with the deal, who
declined to be identified before the official announcement.
Read more at Bloomberg Energy News
Philippines' largest producer of geothermal energy, said the
government raised 17.1 billion pesos ($372 million) by selling
20 percent of the utility. The company's shares surged.
The 3 billion shares were sold at 5.7 pesos each, PNOC
Energy said in a statement to the stock exchange today.
Investors placed orders for more than six times the stock on
offer, according to two people familiar with the deal, who
declined to be identified before the official announcement.
Read more at Bloomberg Energy News
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