Ayala Land raises $356m in private placement 

Visual from the company website

Ayala Corporation, the Philippines-based conglomerate, disclosed on Monday that a successful private placement was made by its real estate arm Ayala Land Inc (ALI), through which the realty firm raised $356 million (P16 billion).

Ayala assisted its real estate unit in raising funds through a placement of 484,848,500 common shares at a price of P33.00 per share. The placement was conducted via book-building offering, structured as a top-up placement with all the proceeds to be received by ALI.

ALI plans to use the proceeds for expansion. The real estate giant has set aside $2.2 billion (P100 billion) in planned capital expenditure this year for its various projects.

“This equity placement will help Ayala Land pursue its growth plans and achieve its long-term strategy,” said Ayala Corporation Chairman and CEO Jaime Augusto Zobel de Ayala. “We remain committed and supportive of Ayala Land, and continue to believe that it is a key component of our portfolio and an important driver of growth at Ayala Corporation.

“As a result of this transaction, the conglomerate’s holdings in common shares will be reduced to 47.3 per cent from 48.9 per cent but it will retain voting control at over 68.9 per cent.

ALI’s share price last closed at P34 per share on Monday, down by P1.00 (2.86 per cent) from last Friday’s P35 per share.

ALI was listed in 1991 and now has more than 50 subsidiaries running several business lines such as property development, commercial leasing, and services.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.