ACEN Corp. has completed a fresh equity infusion into its oil and gas subsidiary ENEX Energy Corp., subscribing to 17.4 million non-voting preferred shares for a total consideration of PHP 17.4 million, based on separate disclosures filed by the two listed firms on December 26.

Under the executed subscription contract, ACEN subscribed to 17,400,000 non-voting preferred shares with a par value of PHP 1.00 per share, to be issued from ENEX’s unissued authorized capital stock. The investment represents about 1.3% of ENEX’s total outstanding shares.

ACEN said the subscription price will be used to fund the operational requirements of ENEX. The Ayala-led renewable energy company remains the principal stockholder of ENEX, which is listed on the Philippine Stock Exchange and primarily engaged in oil and gas exploration and production, both in the Philippines and overseas .

Both companies noted that the transaction is part of a series of previously disclosed capital-related approvals and filings made in 2024, indicating a continuing financial and corporate restructuring process within the group .

What do you think this additional capital injection signals for ENEX’s role within ACEN’s broader energy portfolio? Join the discussion.

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