Vince Perez gets SEC OK to proceed with Alternergy’s P1.89B IPO

The Securities and Exchange Commission (SEC) has approved the initial public offering (IPO) by Alternergy Holdings Corporation, led by former energy secretary Vince Perez, amounting up to P1.89 billion.

Alternergy Holdings will offer to the public up to 1.28 billion common shares at a maximum price of P1.48 per share. The offer will also include 192.22 million shares to be sold by existing shareholders.

Net proceeds from the offer which could reach up to P1.62 billion will be used for the development and construction of projects under development, debt payment for the acquisition of Kirahon Solar Energy Corp., pre-development expenses for projects in the pipeline, and general corporate requirements.

BDO Capital & Investment Corporation and Investment & Capital Corporation of the Philippines are the joint issue managers and joint lead underwriters for the offer.

Alternergy Holdings is a renewable energy holding company with a portfolio of investee companies with wind, solar, hydro, floating solar and battery storage power projects.

It currently has 67.24 megawatts of operating assets in wind and solar, with potential installed capacity of up to 1,368 MW of renewable energy.

Scammers beware! REGASCO, DOE spearhead LPG Law public awareness

Republic Gas Corp. (REGASCO) president and former LPGMA party-list representative Arnel Ty has called on fellow industry players to ensure the safe use of liquefied petroleum gas in the country in line with Republic Act 11592 or the Liquefied Petroleum Gas Industry Regulation Act.

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Usapang Bilyonaryo” is a digital-first, hybrid magazine show hosted and produced by veteran broadcast journalist Ces Oreña-Drilon in cooperation with the Bilyonaryo.com team. The 30-minute TV cut airs on CNN Philippines at 8 PM every Monday, starting January 16. The full version or producer’s cut of each episode, as well as interview splices, will be posted on Bilyonaryo.com’s Youtube and Facebook accounts.

 

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