<article>Philippine-based <a style="color: #000080" href="http://www.atnholdings.com">ATN Holdings Inc</a> is planning to raise up to $22.12 million (P1 billion) via a preferred shares offer to fund a 30-megawatt solar power plant in Rodriguez, Rizal Province.</article>

Philippine-based <a style="color: #000080" href="http://www.atnholdings.com">ATN Holdings Inc</a> is planning to raise up to $22.12 million (P1 billion) via a preferred shares offer to fund a 30-megawatt solar power plant in Rodriguez, Rizal Province.
ATN Holdings has an existing interest in ATN Philippines Solar Energy Group Inc (ATN Solar), a grantee of a 30MW solar energy services contract by the Department of Energy.
Yesterday, the Energy Regulatory Commission allowed ATN Solar to develop, own and operate a 34.SkV dedicated point to point line and associated assets from the 30MW solar PV power plant of ATN Solar in Rodriguez, Rizal to the three distribution lines of Manila Electric Company (Meralco).
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&#8220;The corporation intends to use the proceeds of the preferred shares offer to fund the site development works, sub-transmission line to Meralco, and balance of system for the commissioning of the 30MW Solar Energy plant in Meralco franchise area,&#8221; ATN Holdings said in a statement.
The holding firm&#8217;s board of directors has determined that the preferred share is a favorable instrument for ATN Holdings additional equity infusion to ATN Solar and is advantageous to the common shareholders since dilution is avoided, if the funds were otherwise raised with the issuance of new common shares.
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ATN Holdings earlier informed the stock exchange that investment bank and financial services group <a style="color: #000080" href="http://www.unicapital-inc.com">Unicapital Inc</a> will act as financial advisor, issue manager, and lead underwriter for the planned preferred shares offer.
ATN&#8217;s last trading price decreased 3.85 per cent or P0.0100 to close at P0.250.
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hilippine-based ATN Holdings Inc is planning to raise up to $22.12 million (P1 billion) via a preferred shares offer to fund a 30-megawatt solar power plant in Rodriguez, Rizal Province.

PH's ATN Holdings mulls $22.12m share sale

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PH's ATN Holdings mulls $22.12m share sale

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