SPNEC gets shareholders nod for P61B share swap, increase in authorized capital

Stockholders of Leandro Leviste’s Solar Philippines Nueva Ecija Corp. (SPNEC) approved on Monday the increase in the company’s authorized capital stock as well as the P60.9 billion share swap deal with parent.

SPNEC is raising its capitalization to 50 billion shares from 10 billion shares to facilitate the issuance of shares to Solar Philippines.