ACEN keeps P30-B stock rights offering on the table – BusinessWorld Online
ACEN CORP., the listed energy platform of the Ayala group, is likely to pursue its P30-billion stock rights offering (SRO) by the second half of the year as it assesses its capital expenditure (capex) plans, its president said.
“Hopefully, we’ll be making a decision maybe in the second quarter on the latest plans for capital raising. But it’s on the table,” ACEN President and Chief Executive Officer Eric T. Francia told reporters last week.
He said the company will hold the SRO “indefinitely” and will revisit the plan in the middle of the year.
ACEN had planned to hold its SRO by September last year, offering shares at a floor price of P2.30 each.
The company later postponed the offering due to a revised schedule for its capex across Southeast Asian markets.
“We will revisit it middle of the year to assess where we stand in terms of the pace of capex deployment,” Mr. Francia said.
He added that proceeds from the SRO would be allocated to growth capital projects.
An SRO is a capital-raising mechanism that allows existing shareholders to purchase additional shares, usually at a discounted price.
For 2026, ACEN has earmarked more than P80 billion to fund large-scale energy projects.
The company currently operates 4.3 gigawatts of renewable energy projects across its markets, including the Philippines, Australia, Vietnam, India, Indonesia, Laos, and the United States.
At the local bourse on Tuesday, ACEN shares dipped 0.34% to close at P2.94 apiece. — Sheldeen Joy Talavera
