Invest Daily Pro
  • Economy
  • Investing
No Result
View All Result
  • Economy
  • Investing
No Result
View All Result
Invest Daily Pro
No Result
View All Result
Home Top News

ACEN infuses additional capital into unit Paddak

by
November 28, 2024
in Top News
0
ACEN infuses additional capital into unit Paddak
0
SHARES
6
VIEWS
Share on FacebookShare on Twitter
PHILSTAR FILE PHOTO

AYALA-LED ACEN Corp. is pouring additional investment into its subsidiary Paddak Energy Corp. worth a total of P12 million to provide technical and maintenance services to its local operations.

ACEN signed a contract with Paddak to subscribe to the latter’s 1.2 million common shares and 10.8 million preferred shares at P1 apiece, the company said in a regulatory filing on Thursday.

The shares will be issued from the unissued portion of the authorized capital stock of Paddak, ACEN said.

“The subscription will allow ACEN to have full ownership of Paddak, which will provide technical operations and maintenance-related services to ACEN’s Philippine operating companies,” the company said.

For its international operations, the company said on Wednesday that its affiliate, ACEN Vietnam Investments Pte. Ltd., had acquired a 49% stake in the Vietnamese renewable energy firm BIM Energy Holding Corp. worth $70.5 million.

The acquisition aims to boost ACEN’s pipeline projects in Vietnam.

ACEN, the listed energy platform of the conglomerate Ayala group, boasts about 6.8 gigawatts of attributable renewables capacity in operation, under construction, and committed projects.

The company operates across a diverse range of markets, including the Philippines, Australia, Vietnam, India, Indonesia, Laos, and the United States.

At the local bourse on Thursday, shares in ACEN fell 4.11% to close at P3.97 apiece. — Sheldeen Joy Talavera

ShareTweetPin

Related Posts

Have a taste of the perfect day in paradise with SULÀ Spirits
Top News

Have a taste of the perfect day in paradise with SULÀ Spirits

January 8, 2025
First months of 2025 likely rainy amid La Niña conditions, says PAGASA
Top News

First months of 2025 likely rainy amid La Niña conditions, says PAGASA

January 8, 2025
December inflation rises to 2.9%
Top News

December inflation rises to 2.9%

January 7, 2025
Outstanding debt hits fresh high of P16.09T
Top News

Outstanding debt hits fresh high of P16.09T

January 7, 2025
Outstanding debt hits fresh high of P16.09T
Top News

Outstanding debt hits fresh high of P16.09T

January 7, 2025
PHL end-December dollar reserves drop to $106.8B
Top News

PHL end-December dollar reserves drop to $106.8B

January 7, 2025
Next Post
Economic policy reforms and the Philippine economy

Economic policy reforms and the Philippine economy

Recommended

“Cognizant Netcentric Unveils EDS+: The Revolutionary Solution for Enhanced Performance and Scalability in Adobe AEM”

“Cognizant Netcentric Unveils EDS+: The Revolutionary Solution for Enhanced Performance and Scalability in Adobe AEM”

September 30, 2024
Bristol Myers Squibb’s Rising SCTR Score: Seize the Moment to Invest?

Bristol Myers Squibb’s Rising SCTR Score: Seize the Moment to Invest?

February 28, 2025
UK salaries rise at fastest rate in three years as Christmas hiring boosts job market

UK salaries rise at fastest rate in three years as Christmas hiring boosts job market

November 26, 2024
Nasdaq DROPS on Weak AMZN, TSLA & GOOGL Earnings!

Nasdaq DROPS on Weak AMZN, TSLA & GOOGL Earnings!

February 9, 2025

Barratt and Redrow forge ahead with £2.5bn merger despite competition worries

August 19, 2024
Top 5 Manganese Reserves by Country

Top 5 Manganese Reserves by Country

May 2, 2025

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Copyright © 2025 InvestDailyPro. All Rights Reserved.

    Disclaimer: InvestDailyPro.com, its managers, its employees, and assigns (collectively InvestDailyPro ) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice.
    The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    No Result
    View All Result
    • About us
    • Contact us
    • Home
    • Privacy Policy
    • Suspicious engagement
    • Terms & Conditions
    • Thank you

    Copyright © 2025 investdailypro.com | All Rights Reserved