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Aug 29, 2017 @ 15:25

Semirara gets SEC green light to jack up capital

 

Semirara Mining and Power Corp. (SMPC) obtained the Securities and Exchange Commission’s approval to raise its capital stock to P10 billion from P3 billion.

The capital increase will give Semirara elbow room to fund future projects.

Semirara’s new capitalization will comprise 10 billion shares with a par value of P1 each share.

“The additional authorized capital will be used to maximize equity funding for future investment/expansion of the business that the Board deems to be in the Corporation’s best interest,” Semirara said.

“It will permit the corporation to act urgently and appropriately on business opportunities and developments as they may arise in the future,” the company added.

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