Philippines-based oil company Trans-Asia Oil and Energy Development plans to acquire an unspecified number of shares in Frontier Oil Corp., news agency Interaksyon reports citing the company’s filing with the Philippine Stock Exchange (PSE).
Oil and Gas in Asia
Trans-Asia Oil subsidiary Trans-Asia Petroleum Corp. will be involve in transaction.
Trans-Asia “has agreed to an investment of P136 million into Frontier Oil’s initial public offering (IPO), currently slated for early 2014,” according to the PSE disclosure, Venture Capital Post .
Frontier Oil owns a stake in four oil and gas contract areas in the Philippines, according to the news report.
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