Phoenix Petroleum Philippines, Inc. (PNX) has disclosed to the Philippine Stock Exchange that Social Security System has purchased 7,500,000 common shares at 5.60 per share with an agreement not to dispose, transfer or sell the subscribed shares for a period of 6 months from the date of purchase.
Phoenix Petroleum is engaged in the business of trading refined petroleum products, lubricants and other chemical products, operation of oil depots and storage facilities, and allied services, mainly in Southern Philippines. Its products and services are distributed and marketed under the "Phoenix Fuels Life" trademark.
PNX was last traded on November 17, 2009 @ 6.10 per share.
Click here for PNX PSE disclosure.
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