The Philippine unit of energy giant Royal Dutch Shell has started taking orders for a $400 million-plus initial public offering on the stock exchange in Manila, in a sign that some investors are still willing to brave political concerns that have weighed on Philippine markets recently.

Pilipinas Shell Petroleum Corp has decided to move ahead with the IPO after testing investor appetite last week, people with knowledge of the process said. The order taking, also known as the book-building process, will last for a week with the aim of listing Pilipinas Shell on the Philippine Stock Exchange on November 3, the people said. Shell wasn’t immediately available for comment.

Philippine stocks and the peso have suffered in recent weeks, largely due to unease about recently elected President Rodrigo Duterte. Duterte, who was elected in June, has spooked investors with his coarse statements and criticisms of traditional allies such as the US He has insulted US President Barack Obama, criticized high-profile businessmen and initiated a so-called war on drugs and crime that has resulted in the deaths of more than 3,000 people. Foreign investors unloaded $213 million worth of stocks listed on the Philippine exchange in September, about a fifth of the net amount that they bought over the previous eight months.