In a statement, the firm said the regulator’s selling permit, granted last Friday, paves the way for NexGen's shares to be listed on the Philippine Stock Exchange (PSE) this month.
The IPO offer period will start on July 1 and conclude on July 8, with a tentative listing date of July 16. NexGen plans to sell up to 300 million common shares at P1.68 per share, with an over-allotment option for an additional 45 million shares.
China Bank Capital Corporation will serve as the sole issue manager, joint lead underwriter, and sole bookrunner, with Investment & Capital Corporation of the Philippines as joint lead underwriter.
XG is a wholly-owned subsidiary of Pure Energy Holdings Corp., an investment holding company involved in the clean, renewable energy space.
Its sister companies include Repower Energy Development Corp. which develops, owns and operates eight run-of-the-river hydropower plants; and Tubig Pilipinas Group Inc. which operates 13 bulk water, distribution and septage facilities.
