Philippines tanker owner Chelsea Logistics Corp (CLC) has scrapped a plan to raise up to PHP 5bn ($96m) in a stock sale.
It had said in September it would issue up to 3m preferred shares.
The company, controlled by Dennis Uy, said it would disclose another fundraising plan in the future.
The cash was wanted to fund expansion and acquisitions.
CLC also said that antitrust watchdog Philippine Competition Commission (PCC) is no longer taking further action on its plan to acquire 2m shares of ferry subsidiary Trans-Asia - subject to certain conditions.
The PCC last year cancelled the deal as the companies failed to notify it, GMA News said.
“Among the conditions in the undertaking of the company are its agreement to price monitoring of passenger and cargo rates,” Chelsea said in a filing.
