The upcoming Renewable Energy company Alternergy initial public offering listing have been approved by Philippine stock exchange. The company can raise up to ₱1.62 Billion.
Alternergy is a Philippine pioneer in renewable energy. With a proven track record of developing, building, and operating groundbreaking renewable power projects in the country. It strive to create a more sustainable future for the next generation. Alternergy takes a Quadruple Bottom Line approach that prioritizes profitability, carbon reduction, host community benefits, and employee fulfillment.
It currently has 67.24 megawatts (MW) of operating assets in wind and solar, with potential installed capacity of up to 1,368 MW of renewable energy.
The company plans to offer up to 1,150,000,000 Firm Shares to be issued by the Company and with an offer of up to 115,000,000 Option Shares pursuant to the Over-allotment option.
Up to 1,150,000,000 Primary Shares to be offered and to be issued by the Company.
The maximum offer price is Php1.48 pesos per share.
Below is the PSE Edge Disclosure for Alternergy.
Up to 1,150,000,000 Primary Shares to be offered and to be issued by the Company. 345,000,000 shares are being offered to trading participants.
Out of the Trading Participants and Retail Offer Shares, up to 230,000,000 Firm Shares (or 20% of the Firm Shares) (the “Trading Participants Offer Shares”) are being allocated to all of the PSE Trading Participants and up to 115,000,000 Firm Shares (or 10% of the Firm Shares) (the “Retail Offer Shares”) are being allocated to local small investors (“LSIs”).
Each PSE Trading Participant shall initially be allocated 1,869,000 Firm Shares, subject to reallocation as may be determined by the Joint Issue Managers. Based on the initial allocation for each PSE Trading Participant, there will be a total of residual Firm Shares to be allocated as may be determined by the Joint Issue Managers. Each LSI applicant may subscribe up to a maximum of [67,000] Firm shares or up to ₱[99,160] at the Offer Price
Out of the Trading Participants and Retail Offer Shares, up to 230,000,000 Firm Shares (or 20% of the Firm Shares) (the “Trading Participants Offer Shares”) are being allocated to all of the PSE Trading Participants and up to 115,000,000 Firm Shares (or 10% of the Firm Shares) (the “Retail Offer Shares”) are being allocated to local small investors (“LSIs”).
Each PSE Trading Participant shall initially be allocated 1,869,000 Firm Shares, subject to reallocation as may be determined by the Joint Issue Managers. Based on the initial allocation for each PSE Trading Participant, there will be a total of residual Firm Shares to be allocated as may be determined by the Joint Issue Managers. Each LSI applicant may subscribe up to a maximum of [67,000] Firm Shares or up to ₱[99,160] at the Offer Price
The gross proceeds from the Offer will amount to up to ₱1,702,000,000. The net proceeds from the Offer, after deducting the estimated related expenses to the Offer, will amount to ₱1,621,652,481 and will accrue to the Company.
The proceeds shall be allocated to finance (i.) the development and construction of the projects under development, namely Solana Solar project, and Lamut Hydro project; (ii.) payment of accrued liabilities on the acquired Kirahon Solar Energy Corp. (“KSEC”) shares; (iii.) pre-development expenses of pipeline projects, namely Ibulao Hydro project, Tanay Wind project, Alabat Wind project, Calavite Offshore Wind project and Tablas Strait Offshore Wind Project; (iv.) general corporate requirements, and (v.) working capital to operationalize Retail Electricity Supply (“RES”).
Each application must be for a minimum of [10,000] Offer Shares or ₱[14,800], and thereafter, in multiples of 1,000 Offer Shares. Applications for multiples of any other number of Shares may be rejected or adjusted to conform to the required multiple, at the Company’s discretion.
Source: https://edge.pse.com.ph/openDiscViewer.do?edge_no=45c647b590ef65f29e4dc6f6c9b65995
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