GREENERGY Holdings, Inc. acquired 10 million secondary common shares in listed agro-commercial firm AgriNurture, Inc. (ANI) in a move aimed at improving its green projects.
The company said in a stock exchange disclosure on Thursday that the acquisition was through the open market at a price of P6.13 per share, amounting to P61.3 million exclusive of taxes, fees, and commission.
After the acquisition, Greenergy now holds 105.10 million shares, which is equivalent to 10.26% of the total issued and outstanding shares of ANI.
“The transaction will strengthen the position of the company in the other ‘green’ projects,” Greenergy said in the disclosure.
Both Greenergy and ANI are led by businessman Antonio L. Tiu.
According to its website, Greenergy has business interests in food and agriculture, banking and finance, real estate development and construction, renewable energy, technology, biotechnology, and green infrastructure projects.
In May, the company announced that its wholly owned subsidiary Winsun Green Ventures, Inc. decided not to renew its distribution agreement with solar panel supplier Hanergy Thin Film Power Asia Pacific Ltd. for the sourcing of solar panels on a pending project.
ANI is an agro-commercial firm that has business interests in the export and trading of organic products such as vegetables, fruits, and grains, according to its website.
On Thursday, shares of Greenergy at the stock exchange rose 3.72% or 16 centavos to end at P4.46 apiece while stocks of ANI improved 1.77% or 11 centavos to close at P6.33 per share. — Revin Mikhael D. Ochave