Businessman-turned-politician Leandro Legarda Leviste has consolidated his stake in SP New Energy Corp. (SPNEC) through a P6.32-billion share transfer from his privately-held holding company.
In a disclosure on Thursday, the group said that Solar Philippines Power Project Holdings Inc., a company wholly-owned by the newbie lawmaker, had transferred its 10.83 billion SPNEC common shares to Leviste.
Solar Philippines is a substantial stockholder of SPNEC. SPNEC said the transaction had been carried out via a special block sale.
However, it noted that this ‘did not change Mr. Leviste’s beneficial ownership in the company.’
Last June, Leviste announced his move to offload some of his stake in SPNEC after winning the post as Batangas 1st district representative. /dda