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Ayala Corp. said plans to raise as much as P25 billion through the sale of preferred shares.
The fund raising activity whose terms are yet to be finalized will be divided into a base amount of up 10 P15 billion and another P10 billion covering the oversubscription option.
“Appropriate disclosures shall be made once the terms have been finalized. This matter will be presented to our stockholders for approval at our annual stockholders’ meeting,” Ayala said.
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