SPNEC bares plan to raise public float

In a disclosure, SPNEC said that its parent, Solar Philippines Power Project Holdings Inc. (SPPPHI), had donated a total of 2.13 billion additional unlisted and fully paid common SPNEC shares to Asia Pacific Institute for Green Development Inc. (Green Development).

It said that SPPPHI on Wednesday executed a deed of donation for 1.58 billion unlisted and fully paid common shares to Green Development, "which will represent 4.60 percent of the issued and outstanding capital stock of the SPNEC."