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Richmond Mercurio - The Philippine Star
June 3, 2025 | 12:00am
In a stock exchange filing, Ayala said it received the certificate of permit to offer securities from the Securities and Exchange Commission to offer and sell five million preferred B shares, with an overallotment option of up to five million shares.
Businessworld / File
MANILA, Philippines — Ayala Corp. has commenced its preferred shares offering yesterday to raise as much as P20 billion to refinance obligations.
In a stock exchange filing, Ayala said it received the certificate of permit to offer securities from the Securities and Exchange Commission to offer and sell five million preferred B shares, with an overallotment option of up to five million shares.
The company will offer the preferred shares at P2,000 apiece.
Ayala said the offer shares have no voting and pre-emptive rights.
The initial rate for dividends on the offer shares has been set at a fixed rate of 6.2903 percent per annum.
The conglomerate will use net proceeds of the offer to fund the refinancing of peso denominated obligations and an indirect investment in ACEN Corp.
The offer period started yesterday and will run until June 9, with the issue and listing date scheduled on June 19, 2025.
BPI Capital Corp., BDO Capital Corp., Chinabank Capital Corp., First Metro Investment Corp., PNB Capital and Investment Corp., RCBC Capital Corp. and Security Bank Capital Investment Corp. were tapped as joint lead underwriters and bookrunners for the offer.
