Ayala’s AC Energy readies Ps16bn share sale

Solar power farm Australia from Adobe 29May20 575x375
By Jonathan Breen
23 Apr 2021

Philippines-based renewable power producer AC Energy Corp is drumming up demand for an up to Ps15.7bn ($323.7m) follow-on offering, scheduled for next week.

The company is the energy business of Philippine conglomerate Ayala Corp and is raising funds to expand its energy portfolio.

It is issuing 1.58bn primary shares, while AC Energy & Infrastructure Corp (ACEIC) is selling 330.25m secondary shares in the deal, according to a source familiar with the ...

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