Solar Philippines Nueva Ecija Corporation (SPNEC), the developer of what is planned to be the largest solar project in Southeast Asia, made its trading debut on the Main Board of the Philippine Stock Exchange (PSE) on Friday, Dec. 17, 2021.
SPNEC’s IPO was oversubscribed, receiving Php 5.3 billion in orders for the Php 2.7 billion offering, with strong demand from investors who want exposure to the first pure-play solar company to list on the PSE. This oversubscription comes as the company’s IPO was sized at the maximum of its indicative range of up to 2.70 billion shares at up to Php 1.00 per share, giving SPNEC a market capitalization of Php 8.12 billion.
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