RASLAG has made a remarkable debut on the stock market
On June 6, 2022, RASLAG Corp., under the management of the Nepumucenos of Pampanga, made its much-anticipated debut on the local stock market, marking a significant milestone for the renewable energy provider with a long-standing presence in Central Luzon since 1922.
Signaling a promising start for the company. Since its initial listing, RASLAG’s performance has been notably positive, drawing attention from investors and analysts alike. The company’s strong showing reflects investor confidence in its potential for growth and success in the market.
With an impressive entry into the stock market, RASLAG has generated considerable excitement among investors. Its initial performance suggests that the company may have a bright future ahead, attracting interest from both institutional and retail investors. The successful debut on the stock market underscores RASLAG’s position as a promising player in its industry, poised for significant growth and development in the coming months and years.
The stock, traded under the symbol ASLAG, surged 2.5 percent to P2.05 per share on its first day of trading on the Philippine Stock Exchange, with an intraday high of 6%. This impressive performance garnered attention from investors, who were particularly drawn to RASLAG’s solar power products and the firm’s expansion plans.
Aniceto Pangan, a trader at Diversified Securities, noted that despite the prevailing market sentiment, characterized by a downturn in the PSE index, RASLAG’s IPO concluded on a positive note. Pangan attributed this success to RASLAG’s ambitious expansion program, which aims to nearly double its current capacity through commercial operations within the year.
RASLAG, a longstanding player in various economic endeavors in Central Luzon, is spearheading solar projects headquartered in Pampanga. Luis Limlingan, head of sales at local brokerage Regina Capital, echoed Pangan’s sentiments, highlighting a global shift towards renewables due to mounting pressure to address climate change. This trend favors RASLAG’s business model and augurs well for its future prospects.
Listing on the PSE with the aim of raising P700 million, RASLAG intends to allocate half of the funds to its solar power project pipeline, with the remainder allocated to “pre-development work” for new solar projects and general business objectives. Notably, RASLAG’s existing 10.046 Megawatt peak solar plant, operational since February 2015, underscores the company’s commitment to sustainable energy solutions.
With RASLAG-3 slated for operationalization in the first quarter of the year, the company is poised to capitalize on the growing demand for renewable energy and solidify its position as a key player in the Philippine energy landscape.
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