AC Energy prices $256m follow-on at low end

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By Jonathan Breen
30 Apr 2021

Philippines-based renewable power producer AC Energy has generated Ps12.4bn ($256.3m) in fresh equity, pricing a sale of new shares at the bottom of the marketed range, according to a source familiar with the matter.

The company is the energy business of Philippine conglomerate Ayala Corp. It sold 1.9bn shares on Thursday at Ps6.50, near the floor of the original Ps6.00 to Ps8.20 guidance range, said the source.

AC Energy held a two-day bookbuild for institutional investors this week, ending on Wednesday. BPI ...

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