Newly-elected Batangas Rep. Leandro Legarda Leviste agreed to divest most of his shares in listed renewable firm SP New Energy Corp. (SPNEC) before
Newly-elected Batangas Rep. Leandro Legarda Leviste agreed to divest most of his shares in listed renewable firm SP New Energy Corp. before assuming office on June 30, 2025.
MGen already paid P13.76 billion for the combined 10.83 billion shares. The transfer of the shares will take place soon. MGen earlier purchased from Leviste 3.77 billion shares for P4.50 billion. Leviste, who won as the new representative of Batangas First District in the May elections, also sold 1.84 billion SPNEC shares to public shareholders for P2.23 billion in 2023 via a follow-on offering.After these transactions, Solar Philippines will continue to own 8.16 billion shares of SPNEC.
Leviste founded Solar Philippines in 2013 to accelerate the development of solar energy in the Philippines.
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