On July 11, 2007, Phoenix Petroleum under the symbol PNX launched its successful initial public offering, becoming the first independent oil company to be listed in the Philippine Stock Exchange after the oil deregulation law was passed in 1998. Phoenix Petroleum also became the first company from Davao City to be listed in the stock exchange.
The initial public offering of Phoenix was 15 times oversubscribed. The IPO price offered at P9.80 soared to a high of P14.50, valuing the company at P2 billion at its peak.
Singer Karylle serenades before the listing
Phoenix President & CEO Dennis Uy: “The journey of a thousand miles begins with a single step… Today, the Phoenix premieres.”
PSE President Francis Lim welcomes Phoenix to PSE
PSE President Francis Lim, Phoenix Petroleum Chairman Domingo Uy, and
President & CEO Dennis Uy ring the bell to formally launch Phoenix’s IPO.
A proud moment for Phoenix Petroleum for its successful IPO.
PSE President Francis Lim, Phoenix Petroleum Chairman Domingo Uy,
and President & CEO Dennis Uy bask in the glory.
Phoenix directors and management team give the thumbs up sign to a successful IPO