Ayala Corporation raises $300 million to fund infrastructure projects

Subscribe to our newsletter and get the latest news and business opportunities in your inbox
Ayala Corporation raises $300 million to fund infrastructure projects

Philippine conglomerate Ayala Corporation has raised P13.5 billion (US$301 million) from the sale of preferred shares, with proceeds to be used to prepay debt to expand its infrastructure and power portfolios.The company stated in its report to the Philippine Stock Exchange (PSE) that it has sold all of its 20 million share-base offer at P500 and only 7 million of its original 10 million preferred class b series 2 shares. The offering commenced on October 23 and finished on October 29.

Share this news

Content locked

In order to view this content, you must have a full subscription. You can check all the benefits of becoming a member and purchase a subscription on our membership page.