Ayala Corp. raises P20 billion via preferred shares

Ayala Corporation successfully raised P20 billion through the issuance of preferred shares, attracting significant interest from both institutional and retail investors.

The company offered 5 million shares as the base offer and an additional 5 million shares due to oversubscription, each priced at P2,000.

These preferred shares come with quarterly dividend payments and an initial annual rate of 6.2903%.

Ayala Corporation president and CEO Cezar Consing highlighted the strong investor support despite global market uncertainties.

Consing also noted that the Ayala Group represents 24% of all outstanding preferred shares in the Philippine domestic market.

The newly issued shares were officially listed on the Philippine Stock Exchange on Thursday.

Ayala's chief finance officer, Alberto de Larrazabal, emphasized the company's ability to effectively access capital markets to fund growth and optimize capital.