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Aboitiz Power Corporation

Company Description
Aboitiz Power Corporation (AP) was incorporated on February 13, 1998 as a holding company for the Aboitiz Group's investments in power generation and distribution as well as retail electricity and other related services. Ownership in the Company was opened to the public through an initial public offering of its common shares in July 2007.

Since its incorporation, AP accumulated interests in both renewable and non-renewable generation plants. The Company holds all its investments in renewable energy through Aboitiz Renewables, Inc. (ARI) and non-renewable energy through Therma Power, Inc. (TPI). Both ARI and TPI are wholly-owned subsidiaries of AP. The Company has ownership interests in eight distribution utilities, which collectively supply electricity to franchise areas covering a total of 18 cities and municipalities in Luzon, Visayas and Mindanao.

On July 4, 2016, ARI completed its acquisition of all equity interests of Aseagas Corporation from AEV. On October 3, 2016, TPI was selected as the preferred bidder for the competitive tender process undertaken by certain investment funds affiliated with The Blackstone Group L.P. for the indirect sale of all of their partnership interests in GNPower Mariveles Coal Plant Ltd. Co. (GMCP) and GNPower Dinginin Ltd. Co. (GNPD). The purchase and sale agreements for the acquisition were finalized on October 4, 2016, which resulted in TPI acquiring an 82.8% beneficial ownership interest in GMCP and 50% beneficial ownership interest in GNPD. The acquisition was completed on December 27, 2016, upon receipt of the approvals from the Philippine Competition Commission and the Philippine Board of Investments.

Source: SEC Form 17-A (2016)
Security Information
Sector Industrial
Subsector Electricity, Energy, Power & Water
Corporate Life 0
Incorporation Date Feb 13, 1998
Number of Directors 9
Stockholders' Meeting as per By-Laws Third Monday of May
Fiscal Year 12/31 (Month/Day)
External Auditor SyCip, Gorres, Velayo & Company
Transfer Agent Stock Transfer Service, Inc.
Contact Information
Business Address NAC Tower, 32nd Street, Bonifacio Global City, Taguig City, Metro Manila
E-mail Address
Telephone Number (02) 793-2800
Fax Number (02) 817-3560