NexGen P580-M IPO approved by PSE
The PSE [link] approved the IPO application of NexGen Energy Corp. [XG 1.68 pre-IPO]. The tentative deal dates have the offer period running from July 1 through July 8, with a listing on July 16. The placeholder offer price will be updated or confirmed today. XG is a subsidiary of Pure Energy Holdings Corp. [PEHC] and a sister company of Repower [REDC 5.34 unch; 30% avgVol]. PEHC is owned by the Tiu Family. The preliminary prospectus [link] provides all the information needed to evaluate the deal, which is a firm offer of 300,000,000 primary common shares of XG, and an over-allotment option of 45,000,000 secondary common shares, at a price of P1.68/share, for a total potential deal size of P580 million.