The Philippine Stock Exchange has approved the listing of an additional 7.5 million shares common shares of Phoenix Petroleum Philippines, Inc.

The listing is set for Wednesday, June 9, 2010.

The listing of the additional 7,500,000 common shares, with a par value of P1.00 per share, will cover the private placement transaction with Social Security System at a subscription price of P5.60 per share. The total transaction value is P42 million.

SSS bought an initial 2.83% stake in Phoenix Petroleum in November 2009. It increased its stake to 9.68% at the end of March 2010.

Phoenix Petroleum is one of the companies approved for inclusion in the equities portfolio of the SSS under the Small Market Cap Investment program launched in 2009.