Regulator OKs ACEN preferred share offering

By Ed Paolo Salting

Jul 29, 2023 12:24 am

THE Securities and Exchange Commission (SEC) has approved ACEN Corp.'s shelf registration of up to P50 billion in preferred shares, to be issued in one or more tranches over three years and subject to the company's compliance with remaining requirements.

For the first tranche, ACEN plans offer up to 12,500,000 preferred shares with an oversubscription option of up to 12,500,000 preferred shares with a par value of P1 and an offer price of P1,000 apiece.

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