Walang laglagan: Peter Nepomuceno burns P15M to rescue Raslag's plunging stock
Headlines Power

Walang laglagan: Peter Nepomuceno burns P15M to rescue Raslag’s plunging stock

Green energy supplier Raslag (ASLAG) of Pampanga-based businessman spent a total of P15 million to avert a freefall in its recently-listed stock.

ASLAG’s stabilization agent, China Bank Securities, acquired a total of 8.7 million shares from June 13 to 17 at a price range of P1.65 to P1.81.


Laglag! Peter Nepomuceno coughs out P13M to save Raslag from further punishment a day after IPO debut

Nepomuceno family gets warm welcome from investors: Raslag rises in market debut

Peter Nepomuceno’s Raslag prices its IPO at P2 a share

ASLAG closed at P1.62 on June 17, down by 19 percent from its IPO price of P2 per share.

China Bank bought a total of P15 million worth of shares in its first week since listing on June 6.

ASLAG raised P805 million from its IPO with P105 million going to the pockets of Nepomuceno and his partners.

The remaining proceeds will be used to fund a 35.1-megawatt (MW) RASLAG-4 solar photovoltaic plant’s development and construction, and the pre-development work for RASLAG-5’s nearly 60-MW.


Leave a Comment

four × five =

This site uses Akismet to reduce spam. Learn how your comment data is processed.