A stock rights offer lets existing shareholders buy more shares, usually at a discount, giving them a chance to maintain their ownership before shares are offered to others.
The offer has a minimum price of P2.30 per share, which represents an 18 percent discount to its previous close of P2.80. ACEN shares are trading at P2.50, down about 10.7 percent from the prior session.
Shares will be issued from ACEN’s unissued stock and a recently approved increase in authorized capital from March and April 2025.
The company expects to launch the offer once it secures regulatory approvals and confirms suitable market conditions.
Major shareholders AC Energy and Infrastructure Corp. and Arran Investment Pte Ltd have also committed to fully subscribe to their pro rata share.
