AC Energy Philippines, the power generation unit of conglomerate Ayala Corp, said on Monday it expects to raise roughly 30 billion pesos ($624 million) from share sales, including a follow-on offering around the middle of this year.
Angelica Y. Yang
AYALA-LED AC Energy Corp. is setting its sights on a new renewable energy goal, this time for 2030 where local and foreign projects will have equal sharing, as it is set to hit its 5-gigawatt (GW) target ahead of the 2025 deadline, its top official said.
“In the next couple of years, you would most likely hear from us regarding our next target. I have no plans of putting another, of revising our 2025 goal,” said AC Energy President and Chief Executive Officer Eric T. Francia in a media briefing on Monday.
“We will most likely set our sights already for 2030, but we’re still going to be calibrating what the right level of renewable target would be,” he added.
elevated railway line will also be constructed in kaithal on the lines of rohtak | रोहतक की तर्ज पर कैथल में भी होगा एलिवेटेड रेलवे लाइन का निर्माण haribhoomi.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from haribhoomi.com Daily Mail and Mail on Sunday newspapers.
Singapore sovereign wealth fund GIC Pte Ltd is buying a 17.5% stake in AC Energy Philippines for 20 billion pesos (US$416 million) via a private placement of new shares and the purchase of existing shares.
The fund will subscribe to four billion primary shares in the energy firm through the private placement, which is expected to take place in the current quarter, AC Energy Philippines says in a filing to the Philippines Stock Exchange on January 4.
The secondary shares will be purchased from its parent company AC Energy and Infrastructure Corp, and is expected to be completed in the third quarter.
The investment is pending regulatory approvals.
December 17, 2020 | 12:04 am Font Size
AAA
Ayala Corp.’s Chief Finance Office Jose Teodoro “TG” K. Limcaoco is next in line to lead the conglomerate’s banking arm Bank of the Philippine Islands (BPI) next year.
He will succeed incumbent BPI President and Chief Executive Officer (CEO) Cezar P. Consing effective April 22 following their annual stockholders meeting, the lender said in a statement on Wednesday.
Mr. Limcaoco has been a board director at BPI since February 2019 and has also been part of its Executive Committee since April 2019.
Mr. Limcaoco was an executive vice-president at BPI prior to his current role at Ayala. He was also president of BPI Capital Corp. from 2007 to 2010 and BPI Family Savings Bank from 2010 to 2015.