By Aaron Humes, Belmopan: According to Prime Minister and Minister of Finance John Briceño, the divested shares in Hydro Belize Limited following the acquisition of the former Fortis Belize Limited have been “oversubscribed” at the close of the share offer in January, with about 2,000 Belizeans subscribing in addition to various institutions.
“Applications which were paid up total over 4,452,000 shares. The equity sale generated $129.1 million plus $5.7 million for additional shares to SSB [the Social Security Board]; total proceeds from equity sale therefore amount to $134.8 million,” the P.M. said, adding that the extra shares would be canceled as a result as only $100 million would be needed to recoup the total investment.
The Government will have fulfilled, within a year, the P.M. said, its commitment to regain the properties and secured them for at least the next 30 years. The full Board is yet to be put in place.
The post Prime Minister reports Hydro Belize Limited share offer ‘oversubscribed’ appeared first on Belize News and Opinion on www.breakingbelizenews.com.
By Aaron Humes, Belmopan: According to Prime Minister and Minister of Finance John Briceño, the divested shares in Hydro Belize Limited following the acquisition of the former Fortis Belize Limited have been “oversubscribed” at the close of the share offer in January, with about 2,000 Belizeans subscribing in addition to various institutions. “Applications which were
The post Prime Minister reports Hydro Belize Limited share offer ‘oversubscribed’ appeared first on Belize News and Opinion on www.breakingbelizenews.com.
