By Jonathan Breen
07.00 AM
AC Energy Corp, a Philippine renewable power producer, has kicked off a follow-on offering of primary and secondary stock, eyeing up to Ps12.4bn ($256.4m).
The issuer – the energy business of Philippine conglomerate Ayala Corp – is selling 1.9bn shares. It opened the deal on Tuesday with an initial price range of Ps6.00 to Ps8.20 apiece.Strong early demand from global blue-chip long-only investors covered the book by late morning on that
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Ayala Corp to boost core businesses, explore fundraising
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SEC approves AC Energy s follow-on offering
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BusinessWorld
April 23, 2021 | 12:04 am
BANK OF THE Philippine Islands (BPI) booked a lower net profit in the first three months of the year due to a decline in revenues caused by lower net interest income.
The lender is moving forward under the leadership of its new President and Chief Executive Officer Jose Teodoro “TG” K. Limcaoco and plans to ramp up digitalization, expand its retail and small business portfolio, and veer away from financing coal projects, with the lender also looking into bidding for the retail business of Citigroup, Inc. in the Philippines.
The bank’s net income stood at P5 billion in the first quarter, it said in a filing with the local bourse on Wednesday. This is lower by 21.64% from the P6.381 billion booked a year earlier, based on BPI’s financial report for the first quarter of 2020.