PETRON Corp., the largest oil refining and marketing company in the Philippines, said it would repurchase up to $350 million of its $750 million outstanding undated securities listed on the Stock Exchange of Hong Kong (HKEx).

In a disclosure to the Philippine Stock Exchange (PSE), Petron said on Monday its Executive Committee had approved the conduct of a tender offer to holders of its outstanding $750-million, 7.5-percent capital securities listed on the HKEx.