MRC to pursue P1B share sale
MRC Allied Inc. has firmed up the terms of its planned private placement of shares to raise P1 billion.
The company has trimmed the number of shares to 1.43 billion from 2.56 billion. The shares will be sold at P0.70 per share, up from the original plan of P0.39 apiece.
Proceeds from the offering will be used to fund the firm’s diversification into power.
MRC earlier announced plans to invest as much as P200 billion to build up a portfolio of 1,00 megawatts of clean and renewable” energy by 2022