The Securities and Exchange Commission (SEC) of the Philippines is urging energy companies to utilize the local capital market to fund their expansion plans. SEC Chairperson Emilio B. Aquino stated that the corporate regulator aims to attract more investment in power projects by simplifying the securities registration process.
“With a simplified registration statement, we make it easier for power generators and distribution utilities to offer their shares to the public,” Aquino said, emphasizing that the capital market can serve as a financing solution for capital-intensive energy projects.
The SEC and the Energy Regulatory Commission (ERC) launched the Securing and Expanding Capital for Power Generation Operators and Wholesale Electricity and Retail Services (SEC POWERS) program on March 27. This initiative streamlines the registration of securities for power generation and distribution utilities in support of Republic Act No. 9136, which requires these firms to offer at least 15% of their shares to the public. Under the program, the SEC must complete the review of registration statements within 45 days of filing.
Source: bworldonline.com
