Bilyonaryo Fernando Zobel De Ayala upped his stake in AC Energy Inc. (formerly Phinma Energy, adding 22.97 million shares.
This brings his total shareholdings to 2.89% equivalent to 217.258 million shares.
Based on a regulatory filing, AC Energy purchased 3.998 million shares on Oct.23 at a price of P2.7924, 6.02 million shares at P2.77 on Oct. 24 and 12.969 million shares at P2.84 on Oct. 25.
The Ayala family acquired Phinma Energy from the Del Rosario family for P6.3 billion in June. The company will serve as a platform for the Ayala energy group’s domestic growth.
AC Energy’s goal is to hit five gigawatts of renewables capacity by 2025. The firm owns 1.6 GW of generation capacity in operation and under construction.