Ayala Corporation Raises P15 Billion in Reissued Class B Preferred Shares

​On Tuesday, October 15, 2024, Ayala Corporation officially launched P15.0 billion in Preferred Class "B" shares at The Philippine Stock Exchange, Inc., generating confidence and significant demand among institutional and retail investors. The aforementioned shares were listed under the ticker symbol ACPB3.

“This issuance provides us with the flexibility to redeem the outstanding preferred shares issued in 2019, and allow us to maintain competitiveness in our cost of capital,” said Alberto de Larrazabal, Chief Finance Officer of Ayala Corporation.

PSE President and CEO Ramon S. Monzon congratulated AC on its successful capital raising activity, which included the full subscription of its over-allotment option. He cited that the reception to this FOO was similar to AC's well-received preferred share issue in May 2023, which was 1.3 times oversubscribed. “The oversubscription of these back-to-back follow-on offerings proves that a business founded on integrity and social consciousness and managed by professional and visionary leaders will always command special attention and support from investors.”

He also congratulated the Ayala group’s holding firm on its founding anniversary and its evolution to one of the most dynamic and successful conglomerates in the country today. “For 190 years, Ayala Corporation has been building businesses whose governance, social responsibility and sustainable environmental practices have made them ESG pillars and paradigms in their industries,” said Mr. Monzon.

The Securities and Exchange Commission's Commissioner Bryant Fernandez, PSE President and CEO Ramon Monzon, and PSE COO Roel Refran were all in attendance during the PSE listing ceremony. Ayala Corporation was represented by Board of Directors Member Fernando Zobel de Ayala, President & CEO Cezar Consing, Chief Financial Officer Alberto de Larrazabal, and Chief Legal Counsel Atty. Franchette Acosta and Estelito Biacora serve as treasurers.