ACEN Infuses P875 Million in Buendia Christiana Holdings Corp

ACEN signed a subscription agreement with its subsidiary, Buendia Christiana Holdings Corp. (BCHC), for the subscription by ACEN to an additional 875,000 common shares at P100 per share and 7,875,000 redeemable preferred shares at P100 per share, to be issued out of the authorized capital stock of BCHC.

The proceeds of ACEN’s subscription will be used by BCHC to acquire additional parcels of land for the ACEN group’s various potential power projects.

The terms and conditions of the transaction

Number of shares to be acquired or disposed: 8,750,000
Percentage to the total outstanding shares of the company subject of the transaction: 15%
Price per share: Php 100.00
Total Subscription Price of P875,000,000.00

The figure under “Percentage to the total outstanding shares of the company subject of the transaction” assumes SEC approval of the increase in BCHC’s authorized capital stock to up to P8.5 billion.

BCHC is a subsidiary of ACEN, and is a special purpose vehicle, which will own land for the Company’s development projects.

ACEN is the listed energy platform of the Ayala Group with a fast-growing presence in the Philippines, Australia, Vietnam, India, Indonesia, Lao PDR and the U.S.A. With about 4.8 GW of attributable renewables capacity in operation and under construction, as well as signed agreements and won competitive tenders worth over 1 GW, the company has already effectively surpassed its original goal of reaching 5 GW of renewables by 2025.

ACEN aims to provide clean, reliable and affordable energy in the Asia Pacific and grow its renewables capacity to 20 GW by 2030. The company is committed to achieving 100% renewable energy in its generation portfolio by 2025 and becoming a Net Zero greenhouse gas emissions company by 2050.