Metro Pacific Investments Corporation (MPIC) has signed definitive agreements for an option to invest up to a total of P23.75 billion for 19 billion shares and becoming the largest shareholder with approximately 42.82 percent of SP New Energy Corporation (SPNEC). In a disclosure to the Philippine Stock Exchange, SPNEC said the option agreement granting MPIC […]

  MANILA — Metro Pacific Investment Corp said on Tuesday it would acquire shares in SP New Energy Corp (SPNEC) worth P2 billion. In a disclosure to the stock exchange, MPIC said it would acquire a total of 1.6 billion common shares of SPNEC from its parent Solar Philippines Power Project Holdings Inc. Source: ABS-CBN […]

  MANILA, March 28 (Reuters) – Philippine infrastructure conglomerate Metro Pacific Investments Corp on Tuesday said it signed a deal to acquire a minority stake in renewable energy firm SP New Energy Corp for 2 billion pesos ($36.8 million). Metro Pacific, a unit of Hong Kong’s First Pacific Co Ltd, was given the option to […]

  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 […]

MANILA, Philippines — Solar Philippines and Razon-led Prime Infra have agreed to advance their partnerships covering several solar projects. In a disclosure last Friday, SP Energy said its board approved the planned memorandum of agreement (MOA) between Solar Philippines and Prime Infra.     Source: Philstar

Solar Philippines Power Project Holdings Inc. said it will be taking up whatever shares out of the P2.7 billion stock rights offer (SRO) of its listed unit SP New Energy Corp. were not completely paid by March. “Based on indications of interest for SPNEC’s shares, the company believes that the partially paid SRO shares will […]