Solar Philippines Power Project Holdings Inc. is opening up its listed unit SP New Energy Corp. to more strategic partnerships with groups, which could be worth about P2.7 billion in private placements and asset-for-share swaps. Know more:
SOLAR Philippines Power Project Holdings Inc. is opening up its listed unit SP New Energy Corp. to more strategic partnerships with groups, which could be worth about P2.7 billion in private placements and asset-for-share swaps.
The block sale of 500 million shares was executed between ACEN and Solar Philippines on January 25 based on the previous day’s closing price of P1.32 per share, for a transaction value of P660 million. With 4.75 billion shares held by the public after the block sale to ACEN, SPNEC would need to increase its public float by at least another 2.12 billion shares.
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