Ayala Corp., the country’s oldest conglomerate, has successfully raised ₱20 billion from the issuance of preferred class “B” shares, which it listed on the Philippine Stock Exchange (PSE) on Thursday, June 19.

The Zobel-led firm said in a statement that the offering attracted substantial interest from institutional and retail investors.

Ayala sold a total of five million shares constituting the base size of the offer, and an oversubscription of five million shares to address substantial demand among investors.

The preferred shares were issued at ₱2,000 per share and are payable quarterly with an initial dividend rate of 6.2903 percent per annum.

Ayala President and Chief Executive Officer (CEO) Cezar P. Consing affirmed the Ayala Group’s continued support for the Philippine capital markets, in a pre-recorded message.

“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. The Ayala Group accounts for 24 percent of the total outstanding preferred shares in the domestic market,” he said.

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

“This issuance underscores the continued ability of Philippine corporate issuers like Ayala Corp. to access capital markets effectively, supporting their growth and optimizing capital despite uncertain and volatile market conditions,” said Ayala Chief Finance Officer (CFO) Alberto M. de Larrazabal.

PSE President and CEO Ramon S. Monzon lauded AC on its successful capital raising activity, which saw the full exercise of its over-subscription option.

“This FOO (follow-on offering), I understand, was, as always, oversubscribed, this time by 1.87 times. A testament that offerings will continue to attract capital if the company is known and proven to be responsible, relevant and sustainable, generating not only profit for its shareholders but creating value for all its stakeholders,” he said.

Monzon also cited the Ayala Group for having raised a total of ₱122 billion from eight offerings from 2020 to the present, a period that was one of the most volatile and challenging in the market.

The offerings include the landmark initial public offering of the very first REIT company, AREIT, Inc., at the height of the pandemic in 2020; ACEN Corporation’s stock rights offering (SRO) and FOO in 2021; Globe Telecom, Inc.’s SRO in 2022; another ACEN FOO in 2023; and Ayala Corporation’s FOO in 2023, 2024 and 2025, a record by itself in terms of being the only company to conduct a successful offering for three consecutive years.

Present at the listing ceremony at the PSE were Monzon and its Chief Operating Officer (COO) Roel A. Refran, along with Securities and Exchange Commission (SEC) Chairperson Francis Edralin Lim and Commissioner McJill Bryant T. Fernandez.

Ayala was represented by De Larrazabal, Deputy CFO Juan Carlos L. Syquia, Chief Legal Officer Franchette M. Acosta, Treasurer Estelito C. Biacora, and Head of Corporate Strategy and Business Development Mark Robert H. Uy.