Ayala Corp., one of the most diversified listed investment holding companies, said Tuesday its board approved the optional redemption of 30 million preferred B series 2 shares.
The redemption will be effective on 29 November, the 5th year anniversary of the shares’ listing on the Philippine Stock Exchange.
Ayala said the shares will be redeemed at their issue price of P500 each, for a total P15 billion, plus accrued and unpaid dividends until 29 November.
Each share has a dividend rate of 4.8214 percent.
As a result of the share redemption, foreign ownership of Ayala will rise to 21.35 percent from 20.59 percent.Ayala has interests in real estate and hotels; financial services and insurance; telecommunications; power; automotive, outsourcing and others.
