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News > Semirara Mining Corporation Raises PHP4.39B through Stock Rights Offering

Semirara Mining Corporation Raises PHP4.39B through Stock Rights Offering

In support of its investment in power and mining capacity expansion, the Company successfully raised additional equity through a Stock Rights Offering in 19 July 2010 for 59,375,000 shares at PHP74/share.

 

This activity generated net proceeds of PHP4.38 billion, of which, PHP2.7 billion was used to partly fund equity requirement of Sem-Calaca Power Corporation, while the balance was used to pay off debt relative to mining capacity expansion.