The Philippine Securities and Exchange Commission approved the direct public offering (DPO) of La Union Electric Company, Inc., making it the second issuer to register under the streamlined guidelines on Securing and Expanding Capital for PowerGen Operators and Wholesale Electricity and Retail Services (SEC POWERS). The Commission En Banc resolved on 27 December 2025 to render effective LUECO’s registration statement covering 2.35 million shares, subject to compliance with remaining requirements. The DPO will offer up to 352,950 common shares priced at PHP 772 each, with expected net proceeds of around PHP 251.4 million to fund capital expenditures, business expansion, and upgrades to facilities and equipment. The offer is structured to comply with the Electric Power Industry Reform Act requirement for generation companies to offer to the public a portion of not less than 15% of their common shares, and Penta Capital & Investment Corporation will act as sole underwriter. The offer period is scheduled for 12–16 January, with shares to be issued not later than 6 February based on the latest timetable submitted to the SEC.
Philippine Securities and Exchange Commission 2026-01-08
Philippine Securities and Exchange Commission approves La Union Electric Company direct public offering of up to 352,950 shares at PHP 772
The Philippine SEC approved La Union Electric Company, Inc.'s direct public offering under SEC POWERS guidelines, covering 2.35 million shares. The offering includes up to 352,950 common shares at PHP 772 each, with net proceeds of approximately PHP 251.4 million for capital expenditures and expansion. Penta Capital & Investment Corporation will serve as the sole underwriter, ensuring compliance with the Electric Power Industry Reform Act's public offering requirements.