AYALA-LED AC Energy Philippines, Inc. finished the year favorably amidst sustained investor sentiments and after the company’s injection of cash into its subsidiary to purchase future project sites.
Data from the Philippine Stock Exchange shows 123.14 million AC Energy shares worth P1.02 billion exchanged during the last two days of December, rendering it one of the eight most actively traded stocks the last two days of the year.
Shares of Ayala’s energy unit ended the day up 22.1% to P9.00 apiece from its P7.37 closing price yesterday. Compared with the same moment in last year, the share’s price has risen by over four times.
Financial markets closed on Dec. 30, then reopened on Jan. 1 so that people will take time off.
“The market has managed to reach a new all-time highs every week since September of 2020. As one of the top performing stocks of the year, AAA Southeast Equities, Inc. performed admirably. Head of Research Christopher John Mangun replied via email.
In a separate e-mail, we submit a submission. Stock analyst Jeff Radley C. sees good mention of the stock.
“AC Energy is a big stock this year, amid market anxiety about a pandemic in our region. He acknowledged that the company has made a lot of effort in its development and production of value for shareholders.
Mr. McEwan reflected on AC Energy’s new transaction with a wholly-owned affiliate, leading to the company’s growth.
Energy Conversion Company reported on December 23 that it has subscribed to 3.5 million preferred shares priced at P100 each. This securities would be provided either through the raise in the approved capital stock, or the release of new shares. Early deposits would be rendered in several tranches with a cumulative cash buy-in of P150 million.
The BCHC can pay the necessary subscription fees on demand, and only with approval by the Board of Directors.
It acknowledged that the deal is subject to regulatory approvals by the U.S. Securities and Exchange Commission and that the subscription fee is subject to full payment.
The Ayala Corp. affiliate has officially reported that the subscription was used in conjunction with the purchase of future project locations.
BCC is a special purpose corporation that would purchase the real estate required for the growth of its parent business.
A week prior to the deal, AC Energy accepted about P11 billion in financing for a project in Pampanga and another one in Ilocos Norte.
AC Energy reported an attributable net income of P977.8 million, while a year earlier their attributable net income was just P322.3 million. For the three quarters to September, this organization made a net income of P2.94 billion, which is a reversal of its net loss for that time last year.
AC Energy’s solid uptrend “may persist . . . until [this] year’s end.”
“P7.30 has some support and then P8.00 has extra support.” It could grow to P10.00 or higher in the first trading week of January, keeping up its momentum.
Meanwhile, Ms. See reported investors should pay particular attention to AC Energy’s plans in the coming year.