Philippine ports and gaming tycoon Enrique Razon is weighing up launching an initial public offering (IPO) worth up to $400 million for his infrastructure and energy holding company, three sources familiar with the matter said on Tuesday.
The proposed IPO for Razon’s Prime Infrastructure Holdings Inc’s is still at an early stage, but could happen as soon as this year, two of the sources said.
Share sale proceeds would be used to fund Prime Infrastructure’s solar power facility that is due to have a capacity of 2,500-3,500 megawatts (MW) combined with a 4,000 MWh to 4,500 MWh battery energy storage system. It would be the world’s largest solar power facility.
