ACEN invests P50M, gets 100% of Belenos

By Ed Paolo Salting

Oct 03, 2024 12:20 am

ACEN Corp., the listed energy platform of the Ayala Group, said Wednesday it had infused fresh capital amounting to P50 million into subsidiary Belenos Energy Corp. (Belenos) to fund the latter's renewable energy initiatives.

The capital infusion was made via a subscription to 50 million redeemable preferred shares of Belenos at a par value of P1 apiece, for a total subscription price of P50 million, that effectively made Belenos 100-percent owned by ACEN.

Already have an active account? Log in here to continue reading.
Or
Subscribe to the Premium Subscription plan to access this subscriber-exclusive article.

Related Articles

Manila Water secures P15-B loan for projects

Globe: 19 more towers sold to Unity for P228M

Victorias Milling nets P1.55B in fiscal year

ICTSI unit's Mindanao terminal concession extended by Phividec

SM Prime seeks SEC OK for P25-B offering

P12-B bond offering eyed by Filinvest Land

ACEN unit wins Australia power project