{"id":329958,"date":"2024-10-17T00:49:52","date_gmt":"2024-10-16T16:49:52","guid":{"rendered":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/?p=329958"},"modified":"2024-10-17T00:50:28","modified_gmt":"2024-10-16T16:50:28","slug":"trade-the-news-ac-raises-p15b-from-full-sale-of-preferred-shares","status":"publish","type":"post","link":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/trade-the-news-ac-raises-p15b-from-full-sale-of-preferred-shares\/","title":{"rendered":"Trade the News: AC raises P15B from full sale of preferred shares"},"content":{"rendered":"\n
Potential Impact of this News<\/strong><\/td>POSITIVE on the stock price<\/strong><\/td><\/tr>
Company<\/strong><\/td>Ayala Corp.<\/td><\/tr>
Stock Code<\/strong><\/td>AC<\/td><\/tr>
Long-term Recommendation on the Stock<\/strong><\/td>Buy<\/td><\/tr>
1-Year Target Price<\/strong><\/td>PHP 876.38<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n
<\/div>\n\n\n\n

Ayala Corp. (AC) successfully raised P15 billion from the sale of preferred shares, which was \u201cheavily oversubscribed\u201d by fixed-income investors.<\/p>\n\n\n\n

In a regulatory filing on Monday, Ayala announced the sale of 5 million preferred class B shares at P2,000 each plus another 2.5 million shares after exercising an option to sell more securities \u201cto address excess demand\u201d.<\/p>\n\n\n\n

The shares, paying an initial 6.0538 percent dividend rate, will be listed on the Philippine Stock Exchange on Oct. 15 (Tuesday).<\/p>\n\n\n\n

The share offer proceeds will mainly be used to redeem P15 billion worth of Class B preferred shares, which are callable on Nov. 29 this year.

\u201cWe are very pleased with the strong market demand for Ayala’s preferred shares offering,\u201d Juan Paolo Colet, managing director at investment bank China Bank Capital Corp., said in a text message.<\/p>\n\n\n\n

\u201cThe issuance was heavily oversubscribed by a good balance of institutional and retail investors who sought a blue chip investment with a fairly high dividend yield. With interest rates expected to trend down, fixed income investors are channeling liquidity to quality names offering premium rates,\u201d he added.<\/p>\n\n\n\n

BPI Capital served as the issue manager with joint lead underwriters and bookrunners, including BDO Capital & Investment Corp., China Bank Capital Corp., and PNB Capital and Investment Corp.<\/p>\n\n\n\n

(News Source: Insider PH<\/a>)<\/em><\/p>\n\n\n\n

<\/div>\n\n\n\n

This report is prepared by PinoyInvestor\u2019s partner broker below. Find out more about our partner brokers<\/a> and sign up to avail their complete trading brokerage services.<\/em><\/em><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Take advantage of the price opportunity that might arise when the news hits. Trade the news!<\/p>\n","protected":false},"author":11,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1371],"tags":[],"class_list":["post-329958","post","type-post","status-publish","format-standard","hentry","category-trade-the-news","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-33"],"_links":{"self":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/329958","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/comments?post=329958"}],"version-history":[{"count":2,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/329958\/revisions"}],"predecessor-version":[{"id":329961,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/329958\/revisions\/329961"}],"wp:attachment":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/media?parent=329958"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/categories?post=329958"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/tags?post=329958"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}