CITICORE Renewable Energy Corp. debuted on the Philippine Stock Exchange on Friday, having raised more than P5 billion from an initial public offering amid a warm reception from local and international investors.'CREC completed its offering of 1,785,715,000 common shares, with a 10 percent overallotment option of up to 178,572,000 secondary common shares, at a price of P2.70 per share,' the RE firm, member of the Saavedra-led Megawide group, said in a disclosure.
In a press conference after the IPO, CREC Chairman Edgar Saavedra said that solar energy was 'one of the technologies that can be built the fastest. It is also one of the cheapest in terms of tariff.''The world has changed significantly over the past few years, making solar a viable and essential component of the energy mix,' he added.
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The week aheadThis week is all about the Citicore Renewable Energy [CREC] IPO.
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Citicore Renewable IPO pushed back to June 7Citicore Renewable Energy Corporation pushed its IPO back one week to June 7, with a revised offer period between May 27 and May 31. This is the second time that CREC’s IPO has been rescheduled.
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CREIT, MREIT, FILRT all declare Q1 dividendsCiticore Energy REIT and MREIT declared their Q1 dividends on Monday, while Filinvest REIT declared its Q1 dividend on Friday.
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