Citicore Renewable Energy Corp. obtained PHP 12.94B IPO approval from the Philippine Stock Exchange for capital expenditures, solar power plant development, and general corporate uses.

Citicore Renewable Energy Corp. has received regulatory approval from the Philippine Stock Exchange for its P12.94 billion Initial Public Offering (IPO) plans. The company plans to use the funds raised from the IPO to finance capital expenditures, pipeline development for solar energy power plants, and general corporate purposes. The IPO will consist of up to 2.9 billion primary common shares at a price of up to P3.88 per share, with an over-allotment option of up to 435 million secondary common shares. The final price will be set on March 6, and the offer period will run from March 11 to 15.

February 01, 2024
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