Posted on July 18, 2012 09:48:18 PM [
BusinessWorld Online ]
“The executive committee of Ayala
approved [Tuesday evening] the sale on the Philippine Stock Exchange of its 15
million common shares held in treasury at a price of P430 per share,” the
disclosure stated, adding that the shares were sold at a 6% discount to
Tuesday’s closing price.
Cash proceeds of P6.45 billion will be
allotted for the Ayala’s further foray into power generation and transportation
infrastructure.
“Ayala is looking to invest up to $1
billion over the next five years in the transport infrastructure and power
generation sectors as it builds a portfolio of power generation assets and as
it sets its sights on toll road, rail, and airport projects under the
government’s public-private partnership (PPP) program,” the company said.
Last December, Ayala bagged the
contract to build and operate the Daang Hari-South Luzon Expressway link, a
four-kilometer, four-lane thoroughfare that became the first PPP project to be
bid out by the government.
Since then, Ayala has expressed interest
in bidding for the operation and management of the Light Rail Transit Line 1
extension and rehabilitation of several airports, among others.
Ayala shares dropped sharply by 5.02%
to P435.00 yesterday from its previous close. -- Franz Jonathan G. de la Fuente
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