Decorp’s IPO sale starts January 8
GOOD news for traders and investors!
The Dagupan Electric Corporation (Decorp) will go public beginning January 08, 2024, after the Securities and Exchange Commission (SEC) has approved its application for an Initial Public Offering (IPO).
In SEC’s website, the SE Commission en banc gave Decorp the greenlight for its IPO.
Decorp will sell 2.2 million shares at P533 per share.
SEC said “Net proceeds from the offer could amount to P1.12 billion”.
Decorp said it will use the proceeds to finance and expand projects within a three-year period i.e. construction of a new substation in Santa Barbara town, plus line extension, rehabilitation, and facility upgrades.
The IPO of Decorp begins on January 8, and ends on January 24, 2024.
Penta Capital & Investment Corporation will be the underwriter for the IPO.
Decorp was incorporated in 1961, and has been serving more than 135 thousand customers in Dagupan City, Calasiao, Santa Barbara, Manaoag, San Jacinto, and San Fabian, and parts of San Carlos City. (Ahikam Pasion)
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