RENEWABLE energy (RE) firm Raslag Corp. plans to raise P100 million by issuing preferred shares out of existing unissued common shares to fund ongoing expansion projects and raise its generation capacity.
RENEWABLE energy firm Raslag Corp. plans to raise P100 million by issuing preferred shares out of existing unissued common shares to fund ongoing expansion projects and raise its generation capacity.The company currently operates three solar projects in Pampanga and is targeting a 1,000-megawatt-peak capacity by 2035.
The aim is to tap other funding resources without necessarily diminishing the voting power and other rights of existing common stockholders, Raslag said.The amended article basically changes the capital stock of Raslag from P2 billion, divided into 2 billion shares with a par value of P1 per share, to P2 billion, 'divided into 1.9 billion common shares with the par value of P1.00 per share; and 100 million preferred shares with a par value of P1.00 per share.
To Raise P100M From Preferred Shares
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