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Article: SHELL PHILIPPINES TO SUBMIT IPO PLANS THIS WEEK.
- Article from:
- AsiaPulse News
- Article date:
- September 11, 2008
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MANILA, Sept 11 Asia Pulse - Pilipinas Shell Petroleum Corporation (PSPC) said it is set to submit its initial public offering (IPO) plans this week.
Edgar Chua, country manager of Shell, told reporters that the company was ironing out some details in their proposed public offering but it would be ready before the week ends. "[We plan to submit it] this week," Chua said in an interview.
Last month, the Department of Energy ordered Shell to submit its plans for IPO which is mandated under the Downstream Oil Industry Deregulation Act of 1998. In a letter, Energy Secretary Angelo Reyes asserted that it has been too long since the Oil Deregulation law was ...