Published May 19, 2021, 3:54 PM
Private transmission firm National Grid Corporation of the Philippines (NGCP) is ‘on track’ with its planned US$1.0 billion initial public offering (IPO) and is targeted to be concluded in six months, based on a mandate from the power industry regulator.
“Right now, we’re on track with our planned activities and in accordance with the ruling that was handed by the ERC (Energy Regulatory Commission). We will comply and we will be giving them monthly updates and we are mindful of the six-month deadline,” NGCP Spokesperson Atty. Cynthia P. Alabanza told reporters in a virtual briefing.
She added “it’s something that we’ve been working on pre-pandemic, so this is not something that we started when we got the ERC order… this is something that we’ve been preparing for because it is part of our franchise and it’s an obligation – that is clear to us.”