Philippine corporate regulator Securities and Exchange Commission on Thursday said it has cleared the maiden offering of NexGen Energy Corp., which seeks to yield net proceeds of P478.4 million to partly finance its renewable energy projects.In a statement, the SEC said the Commission en Banc approved NexGen Energy's registration statement covering 1,490,000,003 shares as part of its initial public offering . It will offer up to 300 million common shares at up to P1.68 apiece.
NexGen is set to generate up to P478.4 million from the offer, which will finance projects in Zambales, Cavite, and other parts of the Philippines. It will not, however, receive proceeds from the sale of Pure Energy Holdings shares.The company tapped China Bank Capital Corp. as the sole issue manager and sole bookrunner for the offer, and Investment & Capital Corporation of the Philippines as the joint lead underwriter.