ACEN to infuse P178M into cash-strapped unit

By Ed Paolo Salting

Jul 03, 2024 12:34 am

ACEN Corp. is injecting P177.54 million to subsidiary ENEX Energy Corp. via a share subscription to help address the latter's negative equity.

In a filing on Tuesday, ACEN said that it had signed a subscription contract with ENEX for more than 177.5 million non-voting preferred shares at P1 each for a total of P177.45 million.

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