MANILA, Philippines — The Ayala Corp’s listed energy platform, ACEN Corp., filed a shelf registration with regulators for an offering and sale of up to 25 million shares.
In a disclosure sent to the Philippine Stock Exchange on Wednesday, ACEN indicated that shelf registration, filed at the Securities and Exchange Commission on Tuesday, also included 50 million preferred shares.
Broken down, the proposed sale is composed of 25 million preferred shares, with 12.5 million of them priced at P1 apiece. If investor appetite proves robust, the offer has an oversubscription option of up 12.5 million shares.
On the other hand, the 50 million preferred shares indicated in the shelf registration were proposed to be offered in several tranches.
ACEN noted that the preferred shares included in the offering were non-voting.
Shares in ACEN was trading 0.65% down as of 9:43 a.m., Wednesday. — Ramon Royandoyan