00:01Patanga's 1st District Representative Leandro Levistas sells another 3 billion pesos worth of shares in SP New Energy Corporation.
00:09This further cuts his stake in his solar company to just 11.51% as he faces legal and political
00:15pressures over his renewable energy ventures.
00:18SPNEC is a listed renewable energy developer now controlled by Meralco's MGen Renewable Energy with the massive MTERASolar project as
00:26its flagship development.
00:27A regulatory filing shows Levista's holding company Solar Philippines Power Projects Holding Inc. disposed of 2.4 billion SPNEC shares
00:37on August 20 at 1.25 pesos apiece.
00:40The transaction cut SPPPHI's stake from 16.30% to 11.51%, equivalent to about 5.76 billion shares.
00:50The filing, signed by Levista on August 27, did not identify the buyer.
00:54Just weeks earlier, Meralco Chairman Manuel Pangilinan told reporters that Levista was already exploring a further exit from SPNEC.
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