TOKAI Holdings Backs REPOWER IPO

REPOWER Energy Development Corp. has garnered the interest of TOKAI Holdings Corp., a Japanese-listed company, in its forthcoming initial public offering (IPO).

According to a media release on Thursday, Eric Peter Y. Roxas, President and CEO of Repower Energy, expressed satisfaction with TOKAI’s decision to participate in their IPO, considering it a validation of the market’s increasing enthusiasm for their company.

Repower Energy stated that TOKAI will acquire approximately 32.5% ownership in the company. As a result, the foreign firm will secure a board seat, albeit in an observer capacity.

TOKAI Holdings Corp., a diversified conglomerate, operates in the fields of electric power, gas, and renewable energy. Its website emphasizes its role as a provider of comprehensive energy solutions, striving to optimize energy services for its clientele.

Mr. Roxas expressed anticipation regarding the potential synergies that their partnership with TOKAI could unlock.

Specifically, he highlighted the opportunity to expand into the Japanese renewable energy market, particularly through run-of-the-river hydropower projects.

He believes that Repower Energy’s expertise combined with TOKAI’s strong presence in Japan will be invaluable in this pursuit.

Pure Energy Holdings Corp.’s subsidiary, Repower Energy, aims to raise P1.15 billion from its IPO.

These funds will support the expansion of the company’s projects and the development of additional renewable energy initiatives.

The IPO will involve the issuance of 200 million primary common shares, priced at a maximum of P5 per share.

Repower Energy has also granted an over-allotment option for up to 30 million shares.

Starting on June 30, the offer period will commence, with the settlement date scheduled for July 14.

Tentatively, Repower Energy plans to list on the Philippine Stock Exchange on July 24.

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