The board of directors of SPC Power Corporation is authorizing the transfer of its shares in Bohol Light Company to Primelectric Holdings, Inc. through a sale worth around Php 200 million.
In a disclosure to the Philippine Stock Exchange, the sale involves the company’s common shares in the Bohol Light Company, amounting to 29,925,000 shares, at a price of Php 6.67 per share to Primelectric, totaling around Php 199.5 million.
However, the firm did not reveal the percentage of its ownership in Bohol Light.
Nonetheless, the disclosure clarified that the two parties’ agreement complied with the terms and circumstances of a share purchase agreement.
SPC is the operator of the 146.5 megawatt (MW) Panay Diesel Power Plant as well as the Bohol Diesel power plant in Tagbilaran City, Bohol which offers a capacity of around 22 MW.
SPC also owns other units like the SPC Island Power Corporation, SPC Malaya Power Corporation, Cebu Naga Power Corporation, SPC Light Company, Inc., and SPC Electric Company, Inc.
