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Brix Lelis - The Philippine Star
February 23, 2025 | 12:00am
During its 18th annual awards held in Malaysia last week, the magazine recognized CREC, which bested other mid-cap companies in the region that went public last year.
STAR / File
MANILA, Philippines — Citicore Renewable Energy Corp.’s (CREC) P5.3-billion public listing has been named the best mid-cap equity deal in 2024 by Hong Kong-based magazine Alpha Southeast Asia.
During its 18th annual awards held in Malaysia last week, the magazine recognized CREC, which bested other mid-cap companies in the region that went public last year.
CREC, the third listed company under tycoon Edgar Saavedra’s Megawide Group, debuted on the Philippine Stock Exchange in June 2024 as the country’s second initial public offering (IPO) last year.
“This award from Alpha Southeast Asia further demonstrates that CREC continues to be seen as a valuable addition to the equity markets,” CREC president and CEO Oliver Tan said.
“As one of the country’s largest renewable energy platforms, CREC represents the investing community’s desire to participate in the energy transition and ultimately help in powering a first-world Philippines with pure renewable energy,” Tan added.
BDO Capital & Investment Corp., which acted as the domestic lead arranger for CREC’s IPO, received the award for the deal team.
“Citicore was not just met with warm reception during its IPO, but even up to this date with its performance in the stock market,” BDO Capital president Ed Francisco said.
