Connect with us

Hi, what are you looking for?

Captain Of Success
Top Stories

Stock Markets

Alternergy advancing capital-raising program with new advisors

PHILSTAR FILE PHOTO

LISTED renewable energy firm Alternergy Holdings Corp. has tapped two financial advisors for its next capital-raising initiative, aiming to support the rollout of its 500-megawatt (MW) capacity target.

Alternergy has appointed AlphaPrimus Advisors and Astris Finance to advise on various options for the company’s capital-raising framework, the company said in a media release on Monday.

“We are advancing to the next phase of our capital-raising program. We are excited to partner and work closely with AlphaPrimus and Astris Finance, who have a strong track record of successfully closing M&A (mergers and acquisitions) deals both locally and internationally,” said Gerry P. Magbanua, president of Alternergy.

AlphaPrimus is an M&A and debt advisor in the Philippines, with the team having already advised on close to 80 transactions worth more than $37 billion, inclusive of previous assignments.

Astris Finance, on the other hand, is a global transaction advisory firm focused on “providing a full suite of investment banking services in connection with energy transition projects,” with $60 billion worth of transactions completed worldwide.

Alternergy is planning a new capital-raising initiative following the P20-billion funding it raised “in just 15 months since its public listing in March 2023.”

Mr. Magbanua said last year that the company planned to allocate P15 billion to fund the capital requirements of its projects, which have a combined capacity of at least 190 megawatts (MW).

The company aims to develop up to 500 MW of additional wind, solar, and run-of-river hydro projects by 2026. At the local bourse on Monday, shares in the company declined by 0.84% to close at P1.18 apiece. — Sheldeen Joy Talavera

    You May Also Like

    Stock Markets

    Students of the Institute of Civil Engineering of the University of the Philippines Diliman experience what it’s like on-board the Circular Explorer and attend...

    Stock Markets

    THE DEVELOPMENT Bank of the Philippines (DBP) will again request for regulatory relief this year as it seeks to boost its capital position. “Just...

    Stock Markets

    In the photo are (seated L to R) Francisco “Coco” D.C. Mauricio, WeFund Lending Corp. President and CEO; Danilo “Bong” J. Mojica II, UnionDigital...

    Stock Markets

    BW FILE PHOTO THE NATIONAL Government’s (NG) debt service bill surged year on year in November as both interest and amortization payments rose, data...

    Disclaimer: CaptainOfSuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice.
    The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.