SPNEC approves swap deal with parent firm
THE board of listed firm Solar Philippines Nueva Ecija Corp. (SPNEC) has approved an asset-for-share swap involving the acquisition of Solar Philippines Power Project Holdings Inc. and 20 other units of the company’s parent firm Solar Philippines Inc. Solar Philippines Inc. assets would be acquired through an asset-for-share swap in exchange for 24.37 billion shares […]
SPNEC okays Solar Philippines share swap deal
Solar Philippines Nueva Ecija Corp. (SPNEC) has approved an asset-for-share swap involving the acquisition of 20 solar projects from its parent firm, Solar Philippines Power Project Holdings Inc., in exchange for 24.37 billion shares of SPNEC at an issue price of P2.50 per share. This share swap is supported by a third-party valuation and fairness […]
SPNEC to absorb parent company via P60-B share swap
Solar Philippines Nueva Ecija Corporation (SPNEC) has approved a P60.9-billion asset-for-share swap with its parent company Solar Philippines Power Project Holdings, Inc. (SPPPHI). In a disclosure to the Philippine Stock Exchange, the firm said the swap involves the acquisition of 100 percent of the outstanding shares of SPPPHI and its affiliates in over 20 entities. […]
SPNEC approves asset–for–share swap plan
Solar Philippines Nueva Ecija Corp. (SPNEC), the newly listed solar company, has approved its asset-for-share swap plan, which involves acquiring 100 percent of the outstanding shares of Solar Philippines Power Project Holdings Inc. and its affiliates in over 20 entities. Solar Philippines founder Leandro Leviste said the share swap was structured in a way that […]
SPNEC to raise P10B via rights offer to fund massive solar projects
Solar Philippines Nueva Ecija Corp. will raise P10 billion by selling more shares a few months after going public to bankroll 10 gigawatts worth of solar energy projects. In a disclosure to the Philippine Stock Exchange, the newly listed energy firm said it would file for stock rights offering in the second quarter of this year. The timing […]
SPNEC board approves stock rights offering
SOLAR Philippines Nueva Ecija Corp. (SPNEC) said its board of directors had approved its plan to conduct a stock rights offering (SRO) to buy land for the development of 10 gigawatts (GW) of solar projects. In a disclosure to the exchange on Monday, SPNEC said its board during its Feb. 14 meeting had given the […]
Leandro Leviste needs P10B to meet his green energy targets, mulls private placement of SPNEC shares
Solar Philippines Nueva Ecija Corp. (SPNEC) is tapping the capital market anew to fast-track the development of 10 GW of solar power projects. In a statement, SPNEC said it was looking to conduct a stock rights offering in the second quarter and a private placement of shares with institutional investors to complete the capital required […]
SPNEC to raise P10 B from SRO, private placements
Solar Philippines Nueva Ecija Corporation (SPNEC) is raising P10 billion from the capital market, including a planned stock rights offering (SRO), to complete its development of 10 GW of solar projects. In a disclosure to the Philippine Stock Exchange, the firm said its Board of Directors has approved the conduct of an SRO where eligible […]
STOCK COMMENTARY I Solar Philippines NEC bags 10-year power supply deal with Angeles Electric Corp
As consumers of electricity with PTSD from blackouts and brownouts due to lack of supply, we should support an “all-of-the-above” approach to adding more capacity to the grid, but as shareholders and investors, there may come a period in the future where these full-throttle plans will come face-to-face with each other and we end up […]
SPNEC secures power supply deal
Solar Philippines Nueva Ecija Corp. signed a 10-year power supply agreement with Angeles Electric Corp., the third largest distribution utility in Luzon, marking its first step towards supplying renewable energy to Central Luzon. Full Details: Manila Standard
