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ACEN eyes up to P30 B from stock rights offer
The Philippine Star
|April 24, 2025
Ayala-led ACEN Corp. is returning to the capital market this year to raise up to P30 billion in fresh funds to further beef up its growth and expansion.
Following the company's annual stockholders' meeting yesterday, ACEN president and CEO Eric Francia told reporters that the board of directors authorized a stock rights offering (SRO) with an indicative floor price of P2.30 per common share.
The proceeds of the fundraising activity, Francia said, would be used mainly to support the "further expansion" of ACEN's renewable energy projects as well as finance its maturing obligations.
ACEN CFO and chief strategy officer Jonathan Back said the SRO is expected to be completed in September this year.
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