Petronas Dagangan shares unchanged on Philippine units stakes disposal

PETALING JAYA: Petronas Dagangan Bhd's (PDB) share price was unchanged at RM24.10 this morning, despite the news of the disposal of its liquefied petroleum gas (LPG) business in the Philippines for RM532.5 million.

At 10.10am today, the shares stood at RM24.10, implying a market capitalisation of RM24.04 billion. A total of 1,200 shares were traded.

PDB told the stock exchange yesterday that it is selling its 100% interest in Petronas Philippines Energy Inc and 40% interest in Duta Inc to Phoenix Petroleum Philippines Inc.

PDB plans to use the proceeds for the group's future capital expenditure.