ALTERNERGY Holdings Corp., with stock symbol Alter, listed its shares at the Philippine Stock Exchange (PSE) on Friday, March 24, 2023, making it the first company to debut on the stock market this year.
The renewable energy firm raised P1.62 billion from its initial public offering.
The company will use the amount to finance the development and construction of its Solana Solar and Lamut Hydro projects and for pre-development expenses of its various pipeline projects.
Alter will also use the funds to pay for accrued liabilities, for general corporate requirements and as working capital to operationalize Retail Electricity Supply. (PR)