REPOWER Energy Development Corp. (REDC) has received regulatory approval to incorporate a new subsidiary, Esperanza Hydropower Corp.
"This is to certify that the articles of incorporation and bylaws of Esperanza Hydropower Corp. were approved by the commission upon the issuance of this certificate of incorporation in accordance with the Revised Corporation Code of the Philippines," the Securities and Exchange Commission said in a statement.
Repower earlier announced that its board had approved the incorporation of Ezperanza Hydropower and subscription to 12.5 million shares at P1 apiece.
Repower's shares on Thursday edged up by P0.05, or 0.52 percent, to close at P9.65 each.
