Alternergy taps Domingo and Marcial as independent directors
Former Energy Secretary Vince Perez’s Alternergy Holdings Corp. is reinforcing its management team in preparation for its public listing next month.
The IPO-bound renewable energy firm announced the appointment of former Trade and Industry Secretary Gregory Domingo and BPI Wealth president and CEO Maria Theresa Marcial as independent directors.
Perez said Domingo and Marcia “will bring in years of experience and expertise in government, banking and investment management” as independent directors.
“Secretary Greg Domingo and Ms. Tere Marcial are highly distinguished professionals who will help steer Alternergy to its new course as a publicly-listed company,” Perez said.
Perez said Domingo and Marcial are also strong champions of renewable energy and sustainability, both of whom have actively promoted investments in renewable energy projects in their respective posts.
“We are proud to welcome them to the Alternergy Team and look forward to working with them,” Perez said.
Alternergy will is looking to raise P1.87 billion from the maiden sale of up to 1.26 billion shares, comprising 1.15 billion primary shares and another 115 million shares for the overallotment option.
The shares will be sold at a maximum price of P1.48 each. Proceeds will be used to fund its renewable power projects.
The offer period will run from March 13 to 17 while the listing of the shares has been set on March 24.