EEI Corporation raises P6B from preferred sale

EEI Corporation (EEI) listed its Series A and Series B preferred shares at the Philippine Stock Exchange (PSE) on Thursday, December 23. The preferred shares are traded under the stock symbols EEIPA and EEIPB.

EEI raised Php6 billion from the share issuance which will be used to finance the company’s future projects, pay short term loans, acquire new equipment and for general corporate purposes.

(from left, by row): EEI Chairperson Helen Y. Dee, PSE President and CEO Ramon S. Monzon, PSE Chairman Jose T. Pardo, PSE Director Chief Justice Teresita Leonardo de Castro (ret.); EEI Director Lorenzo V. Tan, PSE Director Consuelo D. Garcia, EEI Director Wilfrido E. Sanchez, EEI Director Medal T. Nera, PSE Directors Ferdinand K. Constantino and Ma. Vivian Yuchengco; Picazo Buyco Tan Fider & Santos Managing Partner Gabriel A. Dee, SyCip Gorres Velayo & Co. Vice-Chair & Deputy Managing Partner Ms. Maria Vivian G. Cruz-Ruiz, EEI Independent Directors Gregorio T. Yu and Renato C. Valencia, Martinez Vergara Gonzalez & Serrano Partner Gwyneth S. Ong and PSE Corporate Secretary Aissa V. Encarnacion.

The company’s follow-on offering is EEI’s first capital raising activity in the stock market since a stock rights offering in March 2007. “I am optimistic that the company will continue to grow and thrive in the industries it has interests in despite the global economic challenges brought about by the pandemic. Thank you EEI for contributing to our nation building,” PSE President and CEO Ramon S. Monzon said in his welcome remarks during the listing ceremony.

(from left, by row): EEI President and CEO Roberto Jose L. Castillo, PSE COO Atty. Roel A. Refran; EEI Chief Financial Officer and Senior Vice President Cris Noel E. Torres, EEI Chairperson Helen Y. Dee, PSE President and CEO Ramon S. Monzon, and PSE Issuer Regulation Division Head Atty. Marigel B. Garcia; SB Capital Investment Corporation President Virgilio O. Chua, RCBC Capital Corporation President and CEO Jose Luis F. Gomez, Securities Clearing Corporation of the Philippines Chief Operating Officer Renee D. Rubio and PSE General Counsel Atty. Veronica V. Del Rosario.

Mr. Monzon also congratulated the company on its 90th anniversary. “I wish the company more success in its projects here and abroad and may you continue to realize your vision of becoming a Builder of a Better Future.”

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