Published December 23, 2020, 7:30 AM
Ayala-led AC Energy Philippines Inc. (ACEN) has slated February next year as the offer period for its stock rights offering (SRO), in which 2,267,580, 434 common shares will be issued.
The stock listing has been priced at P2.37 per share, based on approval that it had secured for its SRO from the Securities and Exchange Commission; and then the Philippine Stock Exchange.
The shares to be issued shall be as of record date January 13, 2021; and the offer period will kick off on February 1 and will end by February 5.
The Ayala firm previously emphasized that the stock rights offering will comprise of two rounds and will be followed by a domestic institutional offer.
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December 11, 2020 | 7:52 pm Font Size
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AC Energy Philippines, Inc. said on Friday that it had received confirmation from the securities regulator that the Ayala Corp. unit’s proposed stock rights offering is exempt from the registration requirement of the securities code.
The company is planning to offer up to 2,267,580,434 common shares at a price of P2.37 per share, it told the Philippine Stock Exchange. The offering consists of two rounds, and will be followed by a domestic institutional offer.
The first round will be offered on a pre-emptive rights basis to eligible shareholders who may subscribe to 1 share for every 1.11 common shares held as of record date.