SPNEC says share swap to be completed in 2022

SOLAR PHILIPPINES Nueva Ecija Corp. (SPNEC) said on Monday that it targets to complete its asset-for-share swap deal with its parent company, Solar Philippines Power Project Holdings, Inc. (SPPHI), by the end of this year, with its stock rights offering (SRO) expected to be completed in September.

SPNEC’s offering is set from Aug. 30 to Sept. 5. With the completion of these transactions, it aims to complete the development of 10 gigawatts (GW) of solar projects.

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Business Mirror