Electric towers and high -voltage lines.
Maharlika Investment Corp. will purchase 20 % of the Philippine collaborative grids and development projects at a price of 19.7 billion pesos ($ 337 million), which marks the virgin investment of the sovereign wealth fund.
Henry Sy Jr., the eldest son of Henry Sr., founder of SM Investments, Henry Sr.
Rafael Joel Consing, president of Maharlika, said in a media briefing on Tuesday: “We have read it for a while.” “Energy security is the primary task of our priority.”
Consing said that if Maharlika chose not to exercise its shares converted into ordinary shares, the priority shares ensure that the annual dividend yield of the year in the next three years is 6.5 %.
According to Consing, with the preferred stock, Maharlika will occupy two board seats in Synergy Grid and National Grid. He said the sales were expected to be completed within 90 to 180 days.
The National Grid has been operating a state -owned transmission line since 2009, and its investors have also listed their investors as China State Grid Corporation. The lawsuit states that although there is no ongoing talks, Maharlika is interested in acquiring the stocks held by the China State Grid in the Philippine grid operator if mainland companies decide to sell.
Maharlika was established by the government in 2023 to help stimulate economic growth through strategic and favorable investments, social development and promoting the treasury. The fund was initially by the national government and the state -owned lenders (such as the Philippine Land Bank and the Development Bank of the Philippines) with the capital capital of 125 billion peso.
Maharlika hopes to accelerate the expansion of the national grid transmission line with its support to help increase the income of poor families in the distant areas in the islands. “This is what we want to catalyze.”
