The Securities and Exchange Commission (SEC) has approved the P1.17-billion public offering of Dagupan Electric Corporation.
In a report by Inquirer., Dagupan Electric Corporation said would start its public offering comprising 2.2 million shares priced at Php 533 each.
The net proceeds from this could reach up to Php 1.12 billion and this would be used to fund capital projects associated with the company’s electricity distribution services over a three-year duration.
The offer period is scheduled from Jan 8 to 12, 2024, following the most recent timeline submission to the SEC.
The company has tapped Penta Capital & Investment as the underwriter for the offer.
Dagupan Electric serves a total of 135,445 customers in the City of Dagupan, as well as the Municipalities of Calasiao, Sta. Barbara, San Fabian, San Jacinto, and Manaoag, and the Barangays Bolingit, and Cruz in the City of San Carlos.
