SOLAR Philippines and Solar Philippines Nueva Ecija Corp. (SPNEC) have signed the share swap agreement for the issuance of 24,373,050,000 shares at an issue price of P2.50 per share, in exchange for the shares of Solar Philippines in a portfolio of projects. The share swap agreement is due to be filed for regulatory approval, with the issuance of shares planned alongside the private placements.

"We aim to complete the private placements to increase the public float for the share swap by the end of 2022," Solar Philippines founder Leandro Leviste said in a recent briefing.

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