Semirara Mining Corporation Raises PHP4.39B through Stock Rights Offering

In support of its investment in power and mining capacity expansion, the Company successfully raised additional equity through a Stock Rights Offering in 19 July 2010 for 59,375,000 shares at PHP74/share.

This activity generated net proceeds of PHP4.38 billion, of which, PHP2.7 billion was used to partly fund equity requirement of Sem-Calaca Power Corporation, while the balance was used to pay off debt relative to mining capacity expansion.