Ayala kicks off P20-B preferred share sale with 6.29% dividend rate

The Zobel family-led conglomerate Ayala Corp. has secured regulatory clearance to raise as much as P20 billion from the sale of its preferred shares, marking a major move to strengthen its financial base.

The Securities and Exchange Commission has approved the conglomerate’s offer to re-issue up to 10 million perpetual, non-voting, non-convertible preferred “B” shares, priced at P10 billion base with an additional P10 billion oversubscription option.

Ayala set the fixed annual dividend rate at 6.2903 percent, payable for five years before it resets, giving investors a steady income stream in a volatile market. The offer period runs from June 2 to 9, with listing set for June 19 on the Philippine Stock Exchange under the ticker ACPB4.

The proceeds will help refinance peso-denominated debts and fund an indirect investment in ACEN Corp., Ayala’s fast-growing energy arm.

This deal marks another strategic step as Ayala sharpens its focus on renewables and infrastructure while managing its capital structure.

The offering is jointly managed by BPI Capital, BDO Capital, China Bank Capital, First Metro, PNB Capital, RCBC Capital, and Security Bank Capital, with EastWest Bank and PSE trading participants as selling agents.