Ayala Corp. raises P15B from re-issuance of preferred shares

AYALA Corp. (AC) has held a ceremonial bell ringing for the re-issuance of its Class “B” Series 2 preferred shares at the Philippine Stock Exchange (PSE) on Monday. Dec. 2, 2019.

The shares were re-issued on the PSE on Nov. 29.

AC, the holding company of the Ayala Group, raised P15 billion from its preferred shares re-issuance, which was 1.84 times oversubscribed.

AC’s businesses cover sectors such as real estate, financial services, telecommunications, water, industrial technologies, power, infrastructure, healthcare, education and technology venture.

“The successful re-issuance of the preferred shares is an indication of the level of confidence that investors have on the current performance and the strategic direction of the company,” said PSE chairman Jose Pardo in his welcome remarks during the bell ringing ceremony. (PR)