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SEC streamlines capital raising for power firms
The Philippine Star
|February 24, 2024
The Securities and Exchange Commission (SEC) has streamlined the registration process for capital raising of power generation companies and distribution utilities, in support of the public offering mandate stipulated in the Electric Power Industry Reform Act (EPIRA) of 2001.
The SEC has issued a memorandum circular adopting the guidelines for a simplified registration for power generation firms and distribution utilities seeking fresh funds through the public offering of securities.
Through the Securing and Expanding Capital for Power Generation Operators and Wholesale Electricity and Retail Services (SEC POWERS), the registration of securities for power generation companies and distribution utilities that are mandated to offer and sell at least 15 percent of their shares to the public, pursuant to EPIRA, has been simplified.
The SEC said the simplified procedure supports the policy of the state to enhance the inflow of private capital and broaden the ownership base of the power generation, transmission and distribution sectors.
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FLERE HISTORIER FRA The Philippine Star
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