Achieving our 5,000 MW target requires strength and stamina, and at this morning’s Annual Stockholders’ Meeting, our Chairman, Fernando Zobel de Ayala, spoke about ACEN’s notable initiatives to strengthen its balance sheet and augment its cash position.
“In 2021, ACEN successfully raised around ₱48 billion. In January of the same year, we completed our stock rights offering that raised ₱5.4 billion from the issuance of 2.27 billion primary shares. This was followed by the successful completion of a private placement of 4 billion primary shares worth ₱11.9 billion to GIC, Singapore’s sovereign wealth fund. The company’s follow-on-offering last May contributed another ₱10.3 billion.”