Ayala Corp to issue up to P10-B preferred shares
MANILA - Philippine conglomerate Ayala Corp plans to raise up to P10 billion ($232 million) in an offering of preferred shares, it said on Friday.
The shares will be offered at P500 each with a fixed quarterly dividend rate, it said in a filing to the stock exchange.
Ayala did not give a timeframe for the issuance.
Ayala owns the Philippines' biggest property firm, Ayala Land Inc, the nation's second-biggest telecommunications carrier Globe Telecom, and the Bank of the Philippine Islands.