Pure Energy Holdings Corp., an investment holding company engaged in renewable power and bulk water supply and distribution projects, plans to raise P1.58 billion through an initial public offering by the first quarter of 2017.
Documents filed with the Securities and Exchange Commission obtained by Manila Standard showed Pure Energy would sell 930 million common shares with an option to sell another 46.5 million shares at a price of up to P1.62 apiece.
The shares represent 15.6 percent of the company’s authorized capital stock.
The company tapped Abacus Capital Securities as sole underwriter of the offering.
Pure Energy was founded by businessmen Dexter Tiu and Eric Roxas.
Tiu also established Coal Asia Holdings Inc. and Titan Mining & Energy Corp., and is a director of JTKC Equities Inc., Star Equities Inc. and TKC Steel Corp. and vice chair of Zhangzhou Stronghold Steelworks Corp based in Xiamen, China.
