Petron block puts Philippine oil refiner on international radar

Petron's pension fund sells $175 million worth of shares at a fixed discount of 17.3% one day before a Temasek entity was aiming to reduce its stake in Thailand's Shin Corp by selling up to $260 million worth of shares.

<div style="text-align: left;"> San Miguel's head office, where Petron is now based </div>

Anette Jönsson

January 19, 2012

Investors on Tuesday night got a chance to buy into Petron Corp, the largest oil refiner in the Philippines, when the company’s pension fund sold Ps7.65 billion ($175 million) worth of shares through a block trade.

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