ACEN eyes P30B stock rights offering by September

Updated Thu, April 24, 2025 at 12:08 AM Published Wed, April 23, 2025 at 2:25 PM

ACEN Corp. plans to raise up to P30 billion through a stock rights offering (SRO) by September to fund its renewable energy projects and pay off debt.

The company's board approved the SRO, with an indicative price of at least P2.30 per share.

ACEN's principal shareholders, AC Energy and Infrastructure Corp. and Arran Investment Pte Ltd., have indicated support for the SRO.

Stockholders have approved an increase in the authorized capital stock by P10 billion to P58.4 billion to allow for the equity raising.

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