RASLAG [ASLAG] debuted strongly on its first trading day in the stock market on June 6, 2022. The listing ceremony was hosted by the Philippine Stock Exchange, Inc. (PSE) with the ticker “ASLAG” which traded ₱569 million on its listing day, making it the second most active stock by value-added.

The IPO raised ₱700 Million that will be used to fund the equity portion of RASLAG-4’s development and construction and the pre-development works for RASLAG-5, and other general corporate purposes.

ASLAG President, Chairman and CEO Peter G. Nepomuceno said: “Throughout our history, the Nepomuceno Group has been guided by my parents’ motto, “Do it well or not at all.” It is this simple but timeless principle that motivates us in Raslag Corp. as we aim to become a major renewable energy player in the country.”

Mr. Nepomuceno also expressed pride in the company’s fundamentals and its future and stated that ASLAG has a clear strategy to achieve a 10-fold growth of its current solar portfolio in the next ten years of 250MW. With the third venture ready for energization, it would nearly double RASLAG’s generation capacity.

According to Mr. Monzon, “The listing of Raslag will grow the portfolio of companies in the Renewable Energy space in our stock market.  As an advocate of sustainability, being a member of the Sustainable Stock Exchanges Initiative, the PSE understands the crucial need for renewables in the fight against climate change. I am pleased that through this IPO, the PSE was able to support Raslag’s capital-raising activity”.

As Mr. Monzon cited, the LSE tranche of ASLAG was oversubscribed by 1.5 times.  ASLAG IPO hit the market with the first of its trades coming through at ₱2.48/share which represented a 24% gain over the offer price of ₱2.00/share with ₱128 Million traded in the first five minutes. The day trade ended in a finish of ₱2.05/share

Sources:

https://corporate.pse.com.ph/raslag-corp-holds-maiden-share-listing/

https://www.philstar.com/business/stock-commentary/2022/06/07/2186656/raslag-ipo-started-wild-ended-mild

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    June 6, 2022

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