Ayala Corporation successfully listed P15 billion worth of preferred shares on the Philippine Stock Exchange on Tuesday. The offering include the re-issuance of 7.5 million perpetual preferred shares priced at P2,000 each.
The shares comprise 5 million cumulative, non-convertible, non-participating, non-voting, redeemable, peso-denominated class B shares and an additional 2.5 million shares available through an oversubscription option. Proceeds from the offering will primarily fund the redemption of class B preferred shares callable on 29 November, supplemented by Ayala’s internal funds.
PSE president Ramon S. Monzon highlighted the company’s diversified investments in sectors like healthcare and fintech, noting their positive impact on Filipinos.
Ayala president and CEO Cezar P. Consing said the total order book was oversubscribed by two times, indicating strong investor interest.
Consing emphasized the importance of funding for both established and emerging businesses within the Ayala group, which collectively represent over 18 percent of all outstanding preferred shares on the exchange. The offering was managed by BPI Capital Corp. and several other financial institutions acting as joint lead underwriters.
