Raslag Corp seeks approval of initial public offering: SEC

MANILA - Raslag Corp is seeking regulatory approval for its initial public offering, the Securities and Exchange Commission said Thursday.

The renewable energy firm's IPO will offer 350 million common shares for up to P2 per share with an overallotment option of up to 52.5 million common shares, the SEC said in a statement.

"The Securities and Exchange Commission has officially received on December 24, 2021 the registration statement of Raslag Corp," the regulator said. 

SEC: The SEC received on December 24, 2021 the registration statement of Raslag Corp. for the initial public offering of 350 million common shares at an offer price of up to P2 per share, with an overallotment option of up to 52.5 million common shares. pic.twitter.com/2zxMYqXFoJ

— Warren de Guzman (@wddeguzman) February 17, 2022

Proceeds from the IPO will be used for land installment payments for its Pampanga Solar Power Project Phase IV, funding for equity portion for the development and construction of the project and funding for other solar project, among others.

Another energy firm Solar Philippine Nueva Ecija Corp listed on the stock exchange in 2021.

• SPNEC lists on Philippine Stock Exchange
• SPNEC bags renewable energy supply deal
• PSE president says 2021 'fantastic year' for capital raising

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