Bilyonaryo - Business

Walang laglagan! Peter Nepomuceno shells out P44M to snatch sliding Raslag shares

June 22, 2022

Bilyonaryo.com

Businessman Peter Nepomuceno is throwing good money to prop up his newly-listed renewable energy firm, Raslag (ASLAG).

The ASLAG chairman, president and CEO, along with director Arsenio N. Valdes, bought a combined 25 million shares at P1.75 each on June 21, nearly two weeks after its initial public offering debut.

The shares were purchased through ASLAG affiliates Borealis Corp. (15 million shares or one percent of the company) and Wespan Development (10 million total shares or .67 percent).

Walang laglagan: Peter Nepomuceno burns P15M to rescue Raslag’s plunging stock

These stock purchases complemented ASLAG’s stabilization fund which was unlocked after its stock fell below its IPO price of P2 per share.

Related News Tags: IPO, Peter Nepomuceno, Raslag (ASLAG)

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