Photo Credit: Arrow Creatives
State-run pension fund Government Service Insurance System (GSIS) has invested P1.46 billion in natural resources development company Nickel Asia Corp.
The GSIS investment involved a purchase of a total of 233,558,653 common shares, done through a block sale approved by the Philippine Stock Exchange on April 12, 2023.
“GSIS’ investment in NAC shows that it is possible for a company to grow responsibly. Our commitment to sustainable development is something we take seriously, and we are happy to attract like-minded entities that believe in the value of responsible mining and renewable energy” NAC CEO and President Martin Antonio Zamora said.
“GSIS continues to look for ways to lengthen its fund life through viable investment opportunities such as the successful vertically integrated mining ore production and processing businesses of NAC. Our decision to invest in NAC supports the goal of safely growing our funds for our members’ benefit, while positioning strategically to aid both the Electric Vehicle industry and nation-building,” GSIS President and General Manager Wick Veloso said.
By 2025, NAC aims to achieve its twin goal of becoming a premier ESG investment in the country and becoming one of the top 25 companies in the Philippine Stock Exchange in terms of market capitalization.
Article courtesy of the Philippine Stock Exchange
