{"id":329924,"date":"2024-10-15T10:50:35","date_gmt":"2024-10-15T02:50:35","guid":{"rendered":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/?p=329924"},"modified":"2024-10-15T10:50:37","modified_gmt":"2024-10-15T02:50:37","slug":"trade-the-news-spnec-injecting-p8-9-billion-into-subsidiaries","status":"publish","type":"post","link":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/trade-the-news-spnec-injecting-p8-9-billion-into-subsidiaries\/","title":{"rendered":"Trade the News: SPNEC injecting P8.9 billion into subsidiaries"},"content":{"rendered":"\n
Potential Impact of this News<\/strong><\/td>POSITIVE on the stock price<\/strong><\/td><\/tr>
Company<\/strong><\/td>SP New Energy Corp.<\/td><\/tr>
Stock Code<\/strong><\/td>SPNEC<\/td><\/tr>
Long-term Recommendation on the Stock<\/strong><\/td>Hold<\/td><\/tr>
1-Year Target Price<\/strong><\/td>PHP 1.40<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n
<\/div>\n\n\n\n

SP New Energy Corp. (SPNEC) is infusing an additional investment of about P8.9 billion into two subsidiaries to fund their working capital requirements.<\/p>\n\n\n\n

In a regulatory filing yesterday, SPNEC said its board of directors approved the subscription to P6.03 billion worth of shares of Terra Solar Philippines Inc. (TSPI) and the assignment of receivables as partial payment for the transaction.<\/p>\n\n\n\n

Likewise, the board authorized the additional subscription to Terra Nueva Inc. (TNI) shares for a total consideration of about P2.9 billion.<\/p>\n\n\n\n

In a message to reporters, SPNEC president and CEO Emmanuel Rubio said the subscription to TSPI will support its application with the Securities and Exchange Commission for its planned increase in authorized capital stock.<\/p>\n\n\n\n

This is in preparation for the entry of the new investor and the future capital needed for SPNEC\u2019s massive solar farm, which includes payment for contractors, Rubio said.<\/p>\n\n\n\n

The capital infusion in TNI will be used for \u201cland and right-of-way acquisition and land conversion cost, among others,\u201d he added.<\/p>\n\n\n\n

SPNEC, through TSPI, is developing the P213-billion Terra Solar project straddling the provinces of Nueva Ecija and Bulacan.<\/p>\n\n\n\n

The solar farm, which covers about 3,500 hectares of land, will consist of 3,500 megawatts worth of solar panels and 4,500 MW hours of battery energy storage systems.<\/p>\n\n\n\n

SPNEC said the project site would be owned by TNI, which will enter into a lease agreement with TSPI covering the property.<\/p>\n\n\n\n

(News Source: Philippine Star<\/a>)<\/em><\/p>\n\n\n\n

<\/div>\n\n\n\n

This report is prepared by PinoyInvestor\u2019s partner broker below. Find out more about our partner brokers<\/a> and sign up to avail their complete trading brokerage services.<\/em><\/em><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Take advantage of the price opportunity that might arise when the news hits. Trade the news!<\/p>\n","protected":false},"author":11,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1371],"tags":[],"class_list":["post-329924","post","type-post","status-publish","format-standard","hentry","category-trade-the-news","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-33"],"_links":{"self":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/329924","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/comments?post=329924"}],"version-history":[{"count":1,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/329924\/revisions"}],"predecessor-version":[{"id":329926,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/329924\/revisions\/329926"}],"wp:attachment":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/media?parent=329924"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/categories?post=329924"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/tags?post=329924"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}