Citicore Renewable Energy Corp.’s P5.3 billion initial public offering (IPO) in 2024 was awarded Alpha Southeast Asia’s Best Mid-Cap Equity Deal of the Year at the magazine’s 18th Annual Deal & Solution, ESG, and Transaction Banking Awards 2024 regional awards on Feb. 12, 2025 in Kuala Lumpur, Malaysia.
CREC bested other equity deals across the region in the category, demonstrating the excellent value proposition and robust reception of the company’s renewable energy IPO in the capital markets.
“This award from Alpha Southeast Asia further demonstrates that CREC continues to be seen as a valuable addition to the equity markets. 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. We are grateful for the recognition, which confirms the market’s confidence in our aspirations,” said CREC president and chief executive Oliver Tan.
The domestic lead manager for the IPO, BDO Capital & Investment Corp., claimed the award for the deal team during the ceremony. “We on behalf of the underwriting syndicate, are proud of this award which recognizes Citicore’s ability to deliver projects in the renewable sector. Citicore was not just met with warm reception during its IPO, but even up to this date with its performance in the stock market,” said BDO Capital president Ed Francisco.
