LN00309-2021

NOTICE

Subject Solar Philippines Nueva Ecija Corporation: Initial Public Offering – Preliminary Terms and Conditions
Company Name Solar Philippines Nueva Ecija Corporation
Mode of Listing Initial Public Offering
Security Details
Type of Security Stock Symbol Par Value
Common Shares SPNEC Php0.10
Issued Shares (Pre and Post-Offer)
Stock Symbol Type of Shares Number of shares
Pre-Offer		 Number of shares
Post-Offer
SPNEC Common Shares 5,424,350,005 Up to 8,124,350,005
Outstanding Shares (Pre and Post-Offer)
Stock Symbol Type of Shares Number of shares
Pre-Offer		 Number of shares
Post-Offer
SPNEC Common Shares 5,424,350,005 Up to 8,124,350,005
Treasury Shares (Pre and Post-Offer) (if applicable)
Stock Symbol Type of Shares Number of shares
Pre-Offer		 Number of shares
Post-Offer
- - - -
Primary Offer Shares
Stock Symbol No. of Shares
SPNEC Up to 2,700,000,000
Secondary Offer Shares (if applicable)
Stock Symbol No. of Shares
- -
Total Firm Offer Shares
Stock Symbol No. of Shares
SPNEC Up to 2,700,000,000
Over-Allotment or Oversubscription Option Shares (if applicable)
Stock Symbol No. of Shares
- -
Total Shares Applied for Listing
Stock Symbol No. of Shares
SPNEC Up to 8,124,350,005
Offer Price Up to Php1.00
Market Capitalization (Post-IPO) Up to Php8,124,350,005.00
TP Allocation Up to 540,000,000 common shares equivalent to up to Php540,000,000.00
Allocation per TP Up to 4,320,000 common shares equivalent to up to Php4,320,000.00
LSI Allocation Up to 270,000,000 common shares equivalent to up to Php270,000,000.00
Estimated Public Float (with Overallotment/Oversubscription) Not applicable.
Estimated Public Float (without Overallotment/Oversubscription) 33.23%
Total Shares Under Escrow
Stock Symbol No. of Shares Duration of Lock-up
SPNEC 5 365 days
SPNEC 5,424,349,999 365 days
Parties to the Offer
Function Name of the Party
Issue Manager and Lead Underwriter Abacus Capital and Investment Corporation
Participating Underwriter Investment & Capital Corporation of the Philippines
Legal Counsel to the Company Picazo Buyco Tan Fider & Santos Law Offices
Legal Counsel to the Issue Manager and Lead Underwriter Angara Abello Concepcion Regala & Cruz Law Offices
Selling Agents PSE Trading Participants
Escrow Agent (IPO Net Proceeds) BDO Unibank, Inc. – Trust and Investments Group
Stock Transfer Agent Philippine National Bank – Trust Banking Group
Receiving Agent Philippine National Bank – Trust Banking Group
Escrow Agent Philippine National Bank – Trust Banking Group
External Auditor Sycip Gorres Velayo & Co.
Price-Setting Date Nov 23, 2021
Start of Offer Period Dec 1, 2021
End of Offer Period Dec 7, 2021
Tentative Listing Date Dec 17, 2021
Corporate Website Hyperlink to the Prospectus TBD
Other Relevant Information

The Exchange approved the application of Solar Philippines Nueva Ecija Corporation (“SPNEC” or the “Company”) for the initial listing of up to 8,124,350,005 common shares, with a par value of Php0.10 per share, under the Main Board of the Exchange, which includes the 2,700,000,000 common shares subject of the Company’s Initial Public Offering (“IPO” or “Offer”).

Attached is a copy of the signed Preliminary Offer Terms Sheet.

As indicated in the Company’s prospectus, “. . . the Company has no operating history and track record. As a company in the renewable energy business, SPNEC is applying to list on the Main Board of the PSE under the Supplemental Listing and Disclosure Requirements for Petroleum and Renewable Energy Companies of the PSE Consolidated Listing and Disclosure Rules, which provides exemption from the track record and operating history requirements of the PSE.”

The Exchange’s approval of the conduct of the IPO and listing of the Company’s shares is subject to its compliance with all of the post-approval conditions and requirements of the Exchange.

The Exchange will advise the investing public of further developments on the IPO of the Company.

For your information and guidance.
Filed on behalf by:
Name Norberto Moreno Jr.
Designation Listings Department