CREC aims to be PH’s largest power producer after raising P5.3B from IPO

Citicore Renewable Energy Corp News

CREC aims to be PH’s largest power producer after raising P5.3B from IPO
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Citicore Renewable Energy Corp . has set its sights on becoming the country’s largest power producer in the next five years.“The goal really is to become the largest, if not top three largest power generation company in the Philippines... We have a five-year time horizon to achieve that goal,” CREC president and CEO Oliver Tan said at a press conference in Taguig City on Friday.

3 billion from its initial public offering of 1,785,715,000 common shares, with a 10% overallotment option of up to 178,572,000 secondary common shares, at a price of P2.70 per share. “With the investments made during the IPO, we have gained even more confidence in our ability to develop and expand our green energy portfolio.

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