Leandro Leviste’s Solar Philippines Nueva Ecija Corporation (SPNEC) is set to go public, even though its power plant is not yet operational.

Leviste is setting low expectations for dividends in the short term, but said investing in SPNEC would be rewarding in a few years.

More on that here.

Finance Secretary Carlos Dominguez III cautioned lawmakers against passing a bill that would slap more taxes on billionaires or individuals with assets exceeding P1 billion, as this may drive out capital and investment from the Philippines.

The Department of Finance (DOF) said Dominguez wrote a letter to House Speaker Lord Allan Velasco, saying that House Bill (HB) No. 10253 would defeat its purpose of generating more revenues.

Read more.

Converge ICT Solutions’ second largest shareholder sold shares on Friday, November 19, through a block trade, bringing its stake down to 10.25% from 15.8%.

Coherent Cloud Investments, which is controlled by private equity firm Warburg Pincus, sold 420 million shares at P30 apiece or a total of P12.6 billion.

Here is what Converge co-founder and president Grace Uy had to say about the block sale.

Andrew Tan’s Megaworld Corporation is building a central business district in Marilao, Bulacan, which will feature corporate buildings, shops, hotels, and commercial towers.

Northwin Main Street is Megaworld’s 16-hectare development project within its 85-hectare township in Marilao and Bocaue, which is called Northwin Global City.

Read more.