SPC Power Corp., a listed power generation company, said Thursday its board approve the sale of shares in Bohol Light Co., Inc. for P199.5 million.
SPC Power sold 29.9 million shares of Bohol Light at P6.67 a share. It isn’t immediately clear what percentage of ownership the shares sold by SPC Power represent in Bohol Light.
The listed power company owns a total 53.66 percent of Bohol Light, with 39.9 percent directly held by SPC Power.
Bohol Light was organized in July 2000 as a distribution utility. It is engaged in the transmission of electricity in Tagbilaran City, its franchise area. Last year, the power utility distributes an average of a little over 10 million kiloWatt-hours of electricity a month.
Last year, Bohol Light saw net income surge to P86.9 million from P19.1 million in 2022 with revenue rising to P1.68 billion from P1.35 billion in the previous year.
