MGreen makes first payment in SPNEC takeover
In a disclosure to the Philippine Stock Exchange on Friday, Dec. 1, SPNEC said the Leviste-led firm has received P7 billion last Nov. 30 from MGen Renewable Energy, Inc. (MGreen) as an initial payment towards its P15.9 billion investment. Source: Manila Bulletin
MGreen forks out initial P7B for SPNEC
MGEN Renewable Energy Inc. (MGreen), the renewable energy development arm of Meralco Powergen Corp. (MGen), has signed a deal with SP New Energy Corp. (SPNEC) for the purchase of a controlling 50.5-percent stake, forking out an initial P7 billion for the subscription agreement. Source: Manila Times
PSE lifts SPNEC trading suspension
The Philippine Stock Exchange (PSE) has lifted the suspension on the trading of the shares of SP New Energy Corporation (SPNEC) on Friday, Dec. 1, after the firm reported that its public float has been raised to 20.02 percent to meet the minimum public ownership requirement of 20 percent. Source: Manila Bulletin
SPNEC, MGen enter into subscription agreement
Meralco unit MGen Renewable Energy and SP New Energy Corporation enter into an agreement. This for the subscription by Amgen of 15.7 trillion common shares and over 19 trillion preferred shares of SPNEC. Leandro Leviste’s firm has already received an initial payment from the Meralco subsidiary. Source: ANC
Investors score blue chips, lifting PSEi
A total of 1.68 billion shares valued at P4.41 billion changed hands, with the volume surge attributed to Leandro Leviste-led SP New Energy Corp. The firm commenced trading on Friday after a six-month suspension after it complied with the minimum public ownership rules of the exchange. Source: Inquirer
SPNEC bares plan to raise public float
SOLAR power provider SP New Energy Corp. (SPNEC) on Thursday disclosed a minimum public ownership (MPO) compliance plan as part of efforts to lift a trading suspension. Source: Manila Times
SPNEC moves to comply with minimum public float
SOLAR PHILIPPINES Power Project Holdings, Inc. (SPPPHI) has donated additional shares of its listed subsidiary to Asia Pacific Institute for Green Development, Inc. (Green Development) to comply with the stock exchange’s minimum public ownership (MPO) requirement. Source: Business World
SP New Energy reverses net loss
SP New Energy Corp., a subsidiary of Solar Philippines, on Thursday reported a nine-month net income of P24.69 million, a turnaround from the P40.45-million loss recorded a year earlier. Source: Manila Times
Turning the tide: Leandro Leviste’s SPNEC swings into the black with P24.7 million profit
SP New Energy Corporation, led by techpreneur Leandro Leviste, marked a notable financial turnaround, reporting a net income of P24.69 million in the nine months to September this year, compared to a net loss of P49.68 million during the same period in 2022. Source: Bilyonaryo
MVP sees MGreen acquisition of SPNEC completed before yearend
MGen Renewable Energy Inc. (MGreen), the renewable energy development arm of Meralco Powergen Corp. (MGen), is looking forward to the development of one of the largest solar projects in the world which is expected to cost P200 billion, with the company expecting to complete the acquisition of a controlling stake in SP New Energy Corp. […]
