By Miguel R. Camus
Conglomerate Ayala Corp. has no plans of shunning the Aquino administration’s public private partnership program after President Aquino last week ordered a rebid of the Cavite Laguna Expressway deal it expected to win with partner Aboitiz Land Inc., a top official said Monday.
The local stock barometer was a tad lower on Thursday, weighed down by a discounted place-out of Ayala Corp. shares.
By Doris C. Dumlao
Conglomerate Ayala Corp. has raised $275 million in fresh equity from the sale of common shares through a “top-up” private placement, increasing its leeway to expand into the power and infrastructure space.
By Riza T. Olchondra
Ayala Corp. will require a total of $1.6 billion in financing to develop large coal power projects in Luzon and Mindanao that will make the conglomerate one of the country’s top power producers, its officials said in a briefing.
Conglomerate Ayala Corp. said net income in the nine months through September rose over a third, with gains led by its property development, telecommunications and water utility business.