Renewable energy firm Raslag Corp. is set to raise up to P1.2 billion through the sale of preferred shares via a private placement, as it accelerates the development of its solar energy portfolio.
The two-day offer, which begins Thursday, covers 700,000 Series 1 preferred shares priced at P1,000 each, with an initial dividend rate of 7.5025 percent per annum. The company has also allotted up to 500,000 additional shares to cover oversubscription.
Proceeds from the offering will be used to finance Raslag’s ongoing and future solar farm projects. The company currently operates four solar power facilities and is actively pursuing new projects as part of its goal to expand its renewable capacity to 1,000 megawatts by 2035.
The preferred share sale is targeted exclusively at institutional or high-net-worth investors. Eligible buyers must be juridical persons that—if registered—have an annual gross income of at least P100 million for the past two years, an investment portfolio of at least P60 million in registered securities, or a minimum net worth of P100 million.
Raslag said the transaction remains subject to the approval of the Securities and Exchange Commission (SEC) and the Philippine Stock Exchange (PSE).
In May, the company’s board approved the reclassification of 100 million common shares to preferred stocks to fund future renewable energy projects.
Founded with a mission to support the country’s clean energy transition, Raslag continues to expand its renewable footprint across Central Luzon and beyond, positioning itself as a key player in the Philippines’ solar energy landscape.
