AYALA Corp. (AC) said it raised P221.05 million through a sale of treasury shares Thursday.

The company said sold through a block sale was 3.07 million treasury shares at a price of P720 apiece.

The proceeds from the sale will be used for general corporate purposes, it added.

Ayala in August reported that core profit for the first half of the year grew 18 percent to P24.3 billion due to stronger contributions from units Bank of the Philippines Islands, Ayala Land Inc., Globe Telecom Inc. and ACEN Corp.

“Improved earnings from AC Energy & Infrastructure (ACEIC) also supported the company’s earnings performance,” it said.

Including one-off items, Ayala’s net income increased 21 percent to P22.3 billion from P18.4 billion.

Revenues amounted to P179.94 billion compared to P164.24 billion last year.