Ayala Corp. raises P20B through preferred share offering

Ayala Corp., the country's oldest conglomerate, raised P20 billion through a preferred share offering that was listed on the Philippine Stock Exchange (PSE) on Thursday.

The company issued five million shares of Class 'B' preferred stock at P2,000 each with an overallotment option for up to another five million shares, reflecting strong investor interest despite global market uncertainties.

Ayala Corp.'s president and CEO Cezar Consing highlighted the successful issuance as a testament to public support for both Ayala and the Philippine capital markets, noting that the proceeds will be used to repay short-term bank loans, fund general corporate purposes, and finance capital expenditures.

The PSE reported that the offering was oversubscribed by 1.87 times, underscoring investor confidence in Ayala Corp.'s ability to generate profit for its shareholders while creating value for all stakeholders.

Ayala Corp. reported a 4% decline in net income to P12.6 billion for the first quarter of 2025 due to weaker contributions from its power and telecommunications units, despite posting an all-time high core net income of P45 billion in 2024.