Conglomerate Ayala Corp. has raised fresh funds through a shares placement, earning about P3.3 billion, to finance infrastructure and power projects it has in its pipeline.
The group reported to the Philippine Stock Exchange (PSE) on Thursday that it completed the placement of 5.1 million common shares held in its treasury. The shares were priced at P647 per share, a 3-percent discount to its closing market price of P667.
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