ACEN pumps in P17 million capital for ENEX Energy’s operations

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December 30, 2025 | 12:00am

MANILA, Philippines — Ayala-led ACEN Corp. infused P17.4 million into its subsidiary, ENEX Energy Corp., to support its operations.

In separate disclosures to the local bourse yesterday, the firms said they executed a subscription contract involving ACEN’s subscription to 17.4 million non-voting preferred shares of ENEX, with a par value of P1 per share or total amount of P17.4 million

The shares will be issued from ENEX’s unissued authorized capital stock.

These represent 1.3 percent of ENEX’s total outstanding shares.

The execution of the subscription contract follows ENEX’s board approval in March last year for the issuance and/or private placement of up to 300 million preferred shares, which was subsequently approved by ENEX stockholders in April of the same year.

“The subscription price will be used to fund the operational requirements of ENEX,” ACEN said.

ACEN is one of the fastest-growing renewable energy companies in Asia-Pacific.

Apart from the Philippines, it has presence in markets including Australia, Vietnam, India and Lao PDR.

At present, ACEN manages seven gigawatts of attributable renewable energy capacity, spanning projects in operation, under construction and with signed agreements.

Meanwhile, ENEX is a listed company engaged in oil and gas exploration and production, both domestically and internationally.

ACEN is the principal stockholder of ENEX.