Latest Greenergy News
Jan 5, 2022
Greenergy Holdings Inc., a company led by businessman Antonio Tiu, will list an additional P752.53 million worth of the company’s common shares, which was part of a series of private placement transactions that were done since its board approval in 2019. The company said it will list some 544.76 million common shares on the Philippine Stock Exchange on Friday. These shares include 207.76 million common shares from ThomasLloyd Cleantech Infrastructure, 30 million from Prestejenchrisdan (PSJCD) Inc.; 52 million from Jerry G. Yu; 36 million from Paul Vincent Lee; 12.5 million from BG Zenith Inc.; 20 million from Cai, Jian-Cheng; 75 million from Marc Kenrich Duca; 21.5 million from Ann Loraine Buencamino; 30 million from Southern Field Ltd.; and 60 million from Three Star Capital Limited (BVI). The subscription price was pegged at P1 per share, with the exception of the Cleantech shares, which were sold at P2 apiece. Cleantech is the foreign investor behind Greenergy’s 20 megawatt San Carlos biopower plant in Negros 2012. It divested in 2014. “Please note that the 207.76 million shares subscribed by ThomasLloyd Cleantech Infrastructure have subsequently been transferred to Antonio L. Tiu. The corresponding taxes have been duly paid and the transfer has been duly recorded in the books of the company,” Greenergy said. “As of date hereof, the company has complied with all the applicable requirements for the listing of the private placement shares. The number of GREEN’s listed common shares will be accordingly adjusted on listing date,” it said. Tiu is consolidating its ownership in Greenergy as part of the company’s expansion plans to create a bigger conglomerate aimed at addressing the Filipinos’ need for agricultural products, financial technology or fintech, clean energy, sustainable real estate and bio technology, the company said. He said he plans to convert Greenergy into a holding firm that will own AgriNurture, his agro-commercial business, and fintech, green infrastructure, biotech, and renewable energy projects. As part of the company’s plan, Tiu will consolidate AgriNurture shares to Greenergy as part of the company’s conversion into a bigger holding firm and infuse the fintech assets, such as digital bank and the agri-token ecosystem. Greenergy currently owns 100 percent of Winsun Green Ventures, 62.3 percent of Sunchamp Real Estate Development Corp., 51 percent of the Yakuru Group and now almost 20 percent of AgriNurture. Winsun is a developer of green energy projects and distributor of solar panels while Sunchamp is a real estate developer focused on developing self-sustaining agri-tourism projects. It currently has rights over approximately 145 hectares of land in Rosario, Batangas.