I don’t know how I missed this one on Friday, but I literally just saw this prospectus before publishing MB this morning and I have not had the time to truly dig in to what is going on. That’s why there are so many large quotes above! Anyway, my first take is that I’m happy to see an interesting new IPO like this hit the market, and I look forward to seeing how other companies might copy SPNEC’s approach to get listed and raise additional funding to complete projects. I could see this as a great way for some less-active legacy companies with large land reserves to wrap a joint venture around a parcel of land and convert a memorandum of understanding into something far more tangible for investors.
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Stock Commentary: Solar Philippines plans P2.7-B IPO in December | Philstar.com