LISTED Phinma Energy Corp. said it has invested an additional P1.6 billion in its renewable energy unit Trans-Asia Renewable Energy Corp. (Tarec) to build up the latter’s capital base.
In a disclosure to the Philippine Stock Exchange on Friday, Phinma Energy said it acquired an additional P1.6 billion worth of shares in Tarec at a price of P1.00 per share on Wednesday, January 11, on top of its subscription of P750 million worth of shares last January 5. The latest transaction brings its investment in Tarec to P2.35 billion.
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