Alternergy to seek SEC nod for share sale

ALTERNERGY Holdings Corp. said on Wednesday its board approved the filing of a 5-year shelf registration of up to P5 billion for the future public offering of its green perpetual preferred shares.

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Alternergy said it will file with the Securities and Exchange Commission (SEC) a shelf registration of up to 50 million perpetual preferred shares to be issued in one or more series per tranche over a period of 5 years to be taken from the unissued capital stock. The proposed issue price of P100 per share could raise up to P5 billion in proceeds over five years.