Ayala sets P19.5-billion share repurchase

MANILA, Philippines — Ayala Corp. is ready to cough up about P19.5 billion to buy back shares from public investors, as it moves closer to an expanded tie-up with Japan’s Mitsubishi Corp. The homegrown conglomerate on Wednesday said it plans to launch a voluntary tender offer to purchase 30.06 million common shares from all holders. READ: