SEC clears Ayala’s P20-B preferred sares offering

Ayala Corporation has secured regulatory approval to raise up to %u20B120 billion from a preferred shares offering, with proceeds earmarked to repay short-term bank loans and fund corporate expenses.

The Securities and Exchange Commission (SEC) approved Ayala’s registration statement covering the re-issuance of five million Preferred Class B shares, with an overallotment option for an additional five million shares. The shares will be offered at %u20B12,000 each, with a maximum net proceeds of approximately %u20B119.86 billion if the offer is fully subscribed.

According to documents submitted to the SEC, the shares are set to be re-issued and listed on the main board of the Philippine Stock Exchange by June 18, with trading to commence on the same day.

Ayala has tapped a consortium of underwriters to jointly manage the offering. These include BPI Capital Corporation, BDO Capital, Chinabank Capital, First Metro Investment, PNB Capital, RCBC Capital, and Security Bank Capital.

The proceeds will primarily be used to settle short-term obligations, with the remaining funds allocated for general corporate purposes and capital expenditures.

The move comes as Ayala posted a 4 percent dip in its first-quarter attributable income, which fell to %u20B112.59 billion from last year’s %u20B113.07 billion. Revenues likewise declined 8 percent to %u20B140.15 billion, dragged down by the weaker performance of Globe Telecom.

Despite this, Ayala Corporation President and CEO Cezar P. Consing remains optimistic, citing strong performances in the group’s banking, real estate, and fintech segments. “Our telco and energy businesses have some catching up to do. Our smaller, newer companies are turning the corner. We are constructive on the year,” he said.

Aggressive EV Charging Expansion

Separately, Ayala Land Inc. and AC Mobility, the conglomerate’s transport and infrastructure arm, announced plans to aggressively expand their electric vehicle (EV) charging network. From the current 90 stations, the network is targeted to reach 700 nationwide by the end of 2025.

The group aims to build an average of three new stations per day to meet the target, with 100 of these to be located in Makati City alone.

On Tuesday, Ayala inaugurated its 70th EV charging station at the Corinthian Plaza in Legazpi Village, Makati. The company said it would also be the first to introduce super-fast chargers capable of fully charging EVs in just 15 minutes.

Six more stations are expected to open in the coming weeks, including sites at Circuit Makati, Legazpi Carpark, Makati Sports Club, Leviste Street Parking, One Legazpi Park, Paseo de Magallanes, and Yuchengco Centre.

“Makati will not only house the most extensive EV charging network in the country but will also be home to the first-ever super-fast chargers in the Philippines,” said Christopher B. Maglanoc, Ayala Land Estates group head and senior vice president.

He added that the charging stations are strategically located in retail, residential, and business hubs to ensure convenience and encourage wider EV adoption.