Own a Piece of Power: Hydro Belize Shares Go Public  

The Government of Belize is moving ahead with its promise to put national energy assets into Belizean hands. Beginning December eighteenth, the government will officially launch a share sale offer for Hydro Belize Limited, the company that owns the Mollejon, Chalillo, and Vaca hydroelectric plants on the Macal River. The sale will see fifty percent of the company offered to the public, following the government’s recent acquisition of the assets from Fortis of Canada. The shares are going for twenty-nine dollars each and government hopes to sell the entire one hundred and nineteen million dollars’ worth of shares to Belize citizens. Prime Minister John Briceño says the divestment strengthens energy security while giving Belizeans a direct stake in a critical sector of the economy.

 

Shane Williams

“PM, we see the government has put offer for Hydro Belize shares. What is the hope for these shares?

 

Prime Minister John Briceño

“As we said from the very – from the start when I presented to cabinet and it went to the National Assembly, that these shares we want to offer it to Belizeans so that the Belizean public can benefit from these shares. Presently, we are offering fifty percent of the shares. And this is mostly for small shareholders, small investors like yourselves. If you have some money, I think you should invest. I think it’ll give you a good return for teachers, BDF, everybody, individuals. And then the other fifty percent is being held back by, by the government. And then that after this first fifty percent initial offering is finished, then we want to do the other fifty percent and based on if all of it is bought up, and if not, then it will be left for the institutional investors such as Social Security. Social Security is expressing great interest. The prospectus is we’re only waiting for the Financial Services Commission to be able to give an actual official letter. They have already gone through it and so for us to make that offering. After this then we go to institutions and investors such as Social Security and I think HRCU have already expressed some interest.  The fifty percent is not for institutional investors. That’s for the – for Belizeans. I don’t want to use the word regular Belizeans – for all Belizeans citizens that that they can invest in. That is for thirty days and then after thirty days, we’re going to see how much Belizeans and then if they don’t buy everything, then that’ll be added on the next fifty percent and that is gonna then be offered to the institutional investors.”