Ayala Corp Hikes Ayala Land Stake
Ayala Corp today disclosed that with its latest acquisition of 468,672,400 Ayala Land shares, Ayala’s ownership of the common shares of Ayala Land increased to 49.5%.
Photo Insert: With Ayala’s ownership of 12,163,180,640 voting preferred shares of Ayala Land, Ayala’s total voting stake in Ayala Land increased from 69.8% to 71.6%.
With Ayala’s ownership of 12,163,180,640 voting preferred shares of Ayala Land, Ayala’s total voting stake in Ayala Land increased from 69.8% to 71.6%.
After the effectiveness of the property-for-share swap between Ayala and Ayala Land, which is still undergoing regulatory review, Ayala’s ownership percentage of Ayala Land’s common shares of Ayala Land will increase to 50.5% and its voting stake will increase to 71.9%.
Ayala Corporation said it had executed another round of share block purchase, equivalent to an additional 3.2% economic stake in the company.
On August 9 and August 12, 2022, Ayala purchased 468,672,400 common shares of Ayala Land at a price of P25.20 per share amounting to P11.82 billion. As a result of the latest acquisition of 468,672,400 Ayala Land.
Ayala Corp further disclosed that while there would be an increased ownership percentage of Ayala in Ayala Land resulting from the share acquisition as well as the property-for-share swap (once effective), the mandatory tender offer requirement is not triggered because there is no change in control of Ayala Land.
Neither was there a change of beneficial owner of Ayala Land. Prior to the foregoing transactions, Ayala already owned directly more than 68% of the total voting stock and total outstanding shares of Ayala Land.