Ayala is trading $8.95, up 19.02%, following renewed coverage of Mitsubishi Corporation’s agreement to increase its economic stake in the company.
- Mitsubishi plans to raise its economic stake from 4.7% to 15% through a P44.5 billion investment; voting interest is expected to reach 20%.
- Ayala plans to use proceeds to reduce debt and pursue opportunities across undervalued group companies.
- Ayala’s rebound followed its September 21 decline; broader markets and financials are weak. No volume data was provided.