{"id":332356,"date":"2025-04-29T23:50:34","date_gmt":"2025-04-29T15:50:34","guid":{"rendered":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/?p=332356"},"modified":"2025-04-30T00:09:49","modified_gmt":"2025-04-29T16:09:49","slug":"trade-the-news-acen-plans-to-raise-p30-billion-from-stock-rights-offering-sro","status":"publish","type":"post","link":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/trade-the-news-acen-plans-to-raise-p30-billion-from-stock-rights-offering-sro\/","title":{"rendered":"Trade the News: ACEN plans to raise P30 billion from stock rights offering (SRO)"},"content":{"rendered":"\n
Potential Impact of this News<\/strong><\/td>NEGATIVE on the stock price<\/strong><\/td><\/tr>
Company<\/strong><\/td>ACEN Corp.<\/td><\/tr>
Stock Code<\/strong><\/td>ACEN<\/td><\/tr>
Long-term Recommendation on the Stock<\/strong><\/td>Buy<\/td><\/tr>
1-Year Target Price<\/strong><\/td>PHP 4.20<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n
<\/div>\n\n\n\n

ACEN Corp. (ACEN) is raising as much as P30 billion through its stock rights offering (SRO) to support its renewable energy growth and expansion.<\/p>\n\n\n\n

\u201cWe also just approved the stock rights offering. As we mentioned earlier, the increase in authorized capital stock was to allow fresh equity raising either in the form of SRO or private placement right, or a follow-on offering. But what the board has decided is a stock rights offering of up to P30 billion and with a floor price of P2.30 per share,\u201d said ACEN President Eric Francia after the company\u2019s stockholders\u2019 meeting.<\/p>\n\n\n\n

In a disclosure to the stock exchange on Wednesday, the company said its board approved the offer and issuance of primary common shares by way of a SRO. The common shares to be issued will be taken from the current unissued common shares and the increase in the authorized capital stock of ACEN, which increase was approved by the board last March.<\/p>\n\n\n\n

The increase in ACEN\u2019s authorized capital stock, the SRO, and the listing of the common shares to be issued pursuant to the SRO are subject to relevant regulatory approvals.<\/p>\n\n\n\n

ACEN may launch the SRO in the next few months. \u201cWe would like to get it done by September,\u201d company chief strategy officer Jonathan Back said.<\/p>\n\n\n\n

The power arm of conglomerate Ayala Corp. said its principal shareholders\u2013ACAC Energy and Infrastructure Corporation and Arran Investment Pte Ltd.\u2013have both indicated their support for the SRO.<\/p>\n\n\n\n

Proceeds from the SRO is meant to support the company\u2019s renewable energy (RE) projects.<\/p>\n\n\n\n

\u201cThe primary focus will be about supporting renewable expansion,\u201d Francia said.<\/p>\n\n\n\n

ACEN intends to scale up its attributable renewables capacity to 20 gigawatts (GW) by 2030 from the current 7 GW.<\/p>\n\n\n\n

Recently, ACEN completed the installation of all 133 wind turbine towers for the 600-megawatt (MW) Monsoon Wind Power Project in Laos.<\/p>\n\n\n\n

Upon completion, the $1-billion Monsoon Wind is poised to become the first wind project in Laos and also the first cross-border renewable power facility in Asia.<\/p>\n\n\n\n

(News Source: Business Mirror<\/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\n\n\n

<\/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-332356","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\/332356","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=332356"}],"version-history":[{"count":1,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/332356\/revisions"}],"predecessor-version":[{"id":332358,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/332356\/revisions\/332358"}],"wp:attachment":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/media?parent=332356"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/categories?post=332356"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/tags?post=332356"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}