NEXGEN Energy Corp., the wind and solar power arm of Pure Energy Holdings Corp., formally joined the Philippine Stock Exchange's Small, Medium and Emerging Board on Tuesday following its P529-million initial public offering .NexGen shares opened at P1.76 each, higher than the IPO price of P1.68, peaked at P1.84, and eventually closed 3 centavos higher at P1.71 apiece.The renewable energy company offered to the public 300 million new common shares at P1.
It will also allocate capital to develop and acquire renewable energy projects.PSE President and Chief Executive Officer Ramon Monzon welcomed NexGen as the first renewable energy company to list on the SME board, noting that the SME board 'is a very practical and feasible listing route' for small to midsize companies.'Hopefully, this IPO will enable XG to increase its total capacity to 38.86 megawatts by the end of 2026,' Monzon said.
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NexGen P580-M IPO approved by PSEThe PSE [link] approved the IPO application of NexGen Energy Corporation [XG 1.68 pre-IPO].
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