SPNEC receives P2.8B of SRO
March 8, 2023
SP Energy Corp. (SPNEC) has received P2.8 billion out of the stock rights offers (SRO) it issued recently, equivalent to 99.9 percent of the subscriptions. The proceeds of the fund raising will be used for project development, including the acquisition of land in Nueva Ecija and Bulacan. This has increased the company’s publicly-owned shares to 4.75 billion of the company’s 10 billion outstanding shares. The company said with this, …