AC Energy Corp., a unit of Ayala Corp., on Friday listed 2.27 million shares at the Philippine Stock Exchange following the completion of a stock rights offering that raised P5.4 billion.
“Today, we raised over P5.37 billion from ACEN’s SRO…The tripling of ACEN’s balance sheet would pave the way for rapid expansion of its renewable business across the region, while also allowing us to make more sustainable investments that are certainly needed and welcomed during this challenging times,” said Fernando Zobel de Ayala, AC Energy chairman, during the listing ceremonies at the PSE.
ACEN conducted a stock rights offering from January 18 to January 22 at price of P2.37 per share.
“Moving forward, we’re excited of the forthcoming integration of Ac Energy’s international assets into a unified platform under ACEN. This would put us in an excellent position to reach our goal of 5000 megawatts of renewables capacity by 2025 and be Southeast asia’s largest listed renewables platform,” Zobel de Ayala said.