Investment & Capital Corp. of the Philippines (ICCP), financial advisor to Alternergy Holdings Corp., asserted its strong commitment to transparency, regulatory compliance, and investor protection in connection with Alternergy’s capital-raising efforts.
“Our role was to ensure that the capital-raising activities adhered to strict regulatory requirements and market practices,” said ICCP president and chief operating officer Manny Ocampo. “All disclosures were made to regulators and investors in line with best standards of fairness and transparency.”
ICCP served as sole issue coordinator and joint lead underwriter for Alternergy’s initial public offering in March 2023. The IPO successfully raised funds to support the company’s renewable energy projects and met stringent requirements set by the Securities and Exchange Commission and the Philippine Stock Exchange, including market capitalization, profitability, and corporate track record.
After the IPO, ICCP also acted as sole arranger for Alternergy’s Redeemable Preferred Shares offering to institutional investor Government Service Insurance System, which were listed on the PSE in March 2024. ICCP said the issuance complied fully with securities regulations and corporate governance standards.
“These transactions followed strict due diligence and compliance processes,” said ICCP Chairman and CEO Val Bagatsing. “We ensured transparency at every stage in line with our professional standards.”
Even so, the Ombudsman still meted 6-month suspension without pay on GSIS president and general manager Wick Veloso and other officials of the state pension fund as the anti-graft agency probes GSIS’ P1.45-billion investment in the listed renewable energy firm. The investigation follows an anonymous complaint lodged with the Ombudsman against Veloso and other GSIS officials.
Alternergy reported to the PSE the payment of its first full annual RPS coupon in December 2024, reflecting its commitment to investor obligations.
ICCP said it remains focused on providing reliable financial advisory services that enable companies like Alternergy to raise capital responsibly while supporting national goals for energy security and sustainability.
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