SPNEC’s P2.8-B SRO fully subscribed

Solar Philippines Nueva Ecija Corporation’s (SPNEC) P2.8 billion stock rights offering has been fully subscribed due to strong demand from its existing shareholders despite the challenging market conditions.

In a disclosure to the Philippine Stock Exchange, the firm said the 1.88 billion new common shares were fully subscribed in the first and second round of the SRO and Solar Philippines did not have to exercise its undertaking to mop up any unsubscribed share.


Manila Bulletin