RASLAG to situation 15 million most popular shares to lift a minimum of P1.5 billion.
MANILA, Philippines – Listed Raslag Corp. is focusing on to situation this July as much as P2 billion value of most popular shares to beef up capital for a brand new photo voltaic venture.
In a disclosure to the native bourse on Monday, the corporate mentioned its board of administrators had authorised a plan to situation as much as 15 million most popular shares, by personal placement, to lift a minimum of P1.5 billion.
READ: Raslag prompts Pampanga photo voltaic plant
If the agency sees excessive demand from the chosen institutional buyers, Raslag will situation extra shares value P500 million.
Raslag mentioned it had tapped BPI Capital Corp. as the only situation supervisor, lead underwriter and bookrunner for the fundraising.
In line with Karl Geo Origeneza, Raslag chief finance officer, the group was nonetheless taking a look at the place to allocate the proceeds however famous that the largest chunk would go to the Raslag-7 venture, which requires an estimated funding of about P4.8 billion.
The official mentioned Raslag hoped to complete the photo voltaic improvement by 2027.
The agency is likewise taking a look at buying a parcel of land for the venture’s switching station.
Final yr, the corporate additionally bared plans to buy parcels of land in Sta Rosa, Nueva Ecija, for round P807.73 million. The websites would possible home the Raslag-7 and Raslag-8 initiatives.
In October, the group activated Raslag-4 in Pampanga. It has a 36.646 megawatt peak (MWp)—its most potential output, which might energy round 24,000 properties per yr.
The corporate’s different operational photo voltaic farms embrace the 18.01-MW Raslag-3, the ten.046-MW Raslag-1, and the 13.141-MW Raslag-2, all of that are positioned in Pampanga.
Raslag is aiming to develop its portfolio to a minimum of 1,000 MW of renewable vitality capability by 2035.
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Chaired by trade veteran Peter Nepomuceno, the corporate debuted on June 6, 2022 on the Philippine Inventory Change, the place it raised P700 million.
