Ayala Corp. sets interest rate for preferred shares to be offered to the public

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Ayala Corp. sets interest rate for preferred shares to be offered to the public
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Zobel-led Ayala Corporation has set the initial dividend rate for the ₱20 billion Class B preferred shares it is re-issuing at 6.2903 percent per annum. In a...

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Proceeds of the offering will be used to repay its short-term bank loans as well as for general corporate purposes and capital expenditures. The conglomerate recently reported that its smaller and newer businesses have turned around or are reducing losses amid measures being taken to ensure their profitability in about two years.

The improved performance was anchored by stronger results from the provider group, which more than offset softness in the pharma segment. AC Industrials saw its core net loss narrow to ₱115 million from ₱331 million. Including one-offs, reported net loss narrowed to ₱294 million from ₱932 million.

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Corp. Sets Interest Rate For Preferred Shares To Be Offered To The Public

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