The offering drew strong interest from both institutional and retail investors, prompting Ayala to exercise the full oversubscription option. A total of 10 million shares were issued — comprising the five million base offering and an additional five million from oversubscription — at ₱2,000 per share. The preferred shares carry a fixed quarterly dividend rate of 6.2903 percent per annum.
Executives from Ayala and PSE marked the listing in a ceremony attended by PSE President and CEO Ramon S. Monzon, COO Roel A. Refran, and Securities and Exchange Commission (SEC) Chair Francis Edralin Lim and Commissioner McJill Bryant T. Fernandez. Representing Ayala were CFO Alberto M. de Larrazabal, deputy CFO Juan Carlos L. Syquia, chief legal officer Franchette M. Acosta, treasurer Estelito C. Biacora, and head of corporate strategy Mark Robert H. Uy.
In a pre-recorded message, Ayala president and CEO Cezar P. Consing reaffirmed the group’s commitment to capital market development.
“The successful re-issuance and listing amidst global market uncertainties reflects the enduring support of the investing public in both Ayala and the Philippine capital markets,” he said, noting that Ayala accounts for 24 percent of the country’s outstanding preferred shares.
“This issuance underscores the continued ability of Philippine corporate issuers like Ayala Corp. to access capital markets effectively, supporting their growth and optimizing capital despite uncertain and volatile market conditions,” added de Larrazabal.
Ayala said proceeds from the offering would support strategic initiatives and strengthen its financial flexibility. —Ed: Corrie S. Narisma
