Ayala Corp. has raised P20 billion from the successful listing of its Preferred Class “B” Shares on the Philippine Stock Exchange on Thursday to fund its businesses.

The company sold 10 million shares, comprising the base offer of 5 million and an oversubscription of another 5 million, at P2,000 each, following strong demand from institutional and retail investors. The shares carry an initial dividend rate of 6.2903 percent per annum, payable quarterly.

“The successful re-issuance and listing amid global market uncertainties of our Preferred Class ‘B’ Shares reflects the enduring support of the investing public in both Ayala and the Philippine capital markets,” Ayala president and CEO Cezar P. Consing said.

Crucial to building businesses

“Tapping into capital markets is crucial for Ayala to continue building businesses that enable people to thrive and deliver meaningful impact at scale,” Consing said.

The Ayala Group represents 24 percent of all outstanding preferred shares in the domestic market,” he added.

For Ayala chief finance officer Alberto M. de Larrazabal, the offering reflects investor confidence and the resilience of Philippine corporate issuers.

“This issuance underscores the continued ability of Philippine corporate issuers like Ayala Corporation to access capital markets effectively, supporting their growth and optimizing capital despite uncertain and volatile market conditions,” he said.