Solar Philippines takes 70% of the DoE’s Green Energy Auction Program capacity
This wasn’t what SPNEC was originally created to do, but it is what SPNEC has been reconfigured to do, and thankfully for investors, SPNEC does it well. Leandro Leviste, the owner of SP and SPNEC, has been consistent since the advent of the new plan to acquire these projects from SP that SPNEC’s main super-power […]
Share swap, capital hike approved by SPNEC shareholders
Shareholders of Solar Philippines Nueva Ecija Corp. (SPNEC) approved yesterday the increase in the company’s authorized capital stock to 50 billion shares from 10 billion shares, as well as the related share swap. SPNEC’s share swap involves the issuance of 24.37 billion shares at P2.50 per share in exchange for shares of Solar Philippines in […]
SPNEC shareholders approve P60-B stock swap
Solar Philippines Nueva Ecija Corporation’s stockholders have approved its increase in authorized capital stock and the P60 billion share swap with parent company Solar Philippines Power Project Holdings Inc. In a disclosure to the Philippine Stock Exchange, the firm said it will raise its authorized capital to P50 billion from P10 billion and the new […]
SPNEC aims to raise P10B for 10-GW solar projects
SOLAR Philippines Nueva Ecija Corp. (SPNEC) on Monday said it plans to offer 5.12 billion shares to the public so it can raise P10 billion for the completion of its solar projects with a combined capacity of 10 gigawatts (GW). In a disclosure to the stock exchange, SPNEC said it aims to raise the funds […]
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. […]
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 […]
