Ayala Land Inc., the country’s largest real estate developer, said Wednesday that it bought back on Tuesday a total 4.2 million shares at different prices for a total P124.1 million.
The shares purchase Monday, transacted through the Philippine Stock Exchange, increased the total number shares bought back from shareholders to 236.5 million and the numbers of stocks held in treasury at 647.7 million. Shares held in treasury may either be sold by Ayala Land to investors or retired.
The latest stock buyback action still left Ayala Land with P20.04 billion out of the P26.07 billion budgeted to repurchase shares. In early 2020, before the pandemic, Ayala Land added P25 billion to its stock buyback program to help boost shareholder value.
