Solar Philippines Nueva Ecija Corp. (SPNEC), the developer of what is planned to be the largest solar project in Southeast Asia, has kicked off its P2.7 billion initial public offering (IPO) which will run until Tuesday, Dec. 7. 

Based on documents filed with the Philippine Stock Exchange, the firm has set the tentative listing date on the Main Board of the Philippine Stock Exchange (PSE) on Dec. 17. 

SPNEC is offering 2.7 billion shares at the price of P1.00 per share. The proceeds of the IPO are to be used to complete the first 50 MW of the project and acquire land to expand the project beyond 500 MW, in support of SPNEC’s plan to develop the largest solar project in Southeast Asia.