Trinidad & Tobago Stock Exchange seems set to welcome another new listing later this year, if all goes well. According to reports out of the twin island state, the country’s Minister of Finance Howai said recently, the Phoenix Park Gas Processors initial public offering (IPO) will “come to market in the next few weeks” with some 75,852,000 shares for the public to purchase.
According to the company’s website, “Phoenix Park Gas Processors Limited (PPGPL) is a Trinidad and Tobago company formed in May 1989” PPGPL is one of the largest gas processing facilities in the Americas. We provide natural gas of a high quality standard to our customer by processing raw, natural gas delivered to our facility from their existing natural gas pipeline system. Processing involves the extraction of natural gas liquids (NGLs). The natural gas is delivered by our customer to downstream facilities that use it as a fuel and feedstock. We also fractionate the extracted NGLs into three components: propane, butane and natural gasoline. The propane and butane are marketed in the Caribbean and Central America and the natural gasoline is marketed internationally.
In 2013, the government sold off a part of First Citizens Bank to the public, with the shares being listed on the Trinidad and Tobago Stock exchange, providing investors with a healthy profit from their purchase.
Another IPO eyes on TTSE
June 11, 2015 by
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[…] The Class B Shares of Trinidad and Tobago NGL Limited was listed on the Trinidad and Tobago Stock Exchange on Monday and gained TT$3 to close at $23 from […]
[…] own but acts as an investment holding company following acquisition of 39% of the share capital of Phoenix Park Gas Processors that is the largest producer of natural gas liquids in Trinidad and Tobago with its operation […]