SEC approves AC Energy’s name change

BW FILE PHOTO

The Securities and Exchange Commission (SEC) has given the go-signal for AC Energy, Inc. to change its name to AC Energy and Infrastructure Corporation (ACEIC), the company told the Philippine Stock Exchange on Friday.

This development came months after the Ayala Corporation consolidated its energy, water, transport, and logistic entities, which were placed under AC Energy. The conglomerate previously announced that AC Energy would be renamed as ACEIC.

Ayala Corp. on Friday said it had received a certificate from the SEC approving the name change of its wholly-owned unit.

ACEIC is the holding company for the Ayala-led energy platform AC Energy Philippines (ACEN).

Last Thursday, ACEN president and chief executive officer Eric T. Francia said the firm needed around $2 billion to exceed its 2025 target of five gigawatts of installed energy capacity.

Shares of ACEN on Friday climbed by 11.96% to finish at P5.80 apiece. — Angelica Y. Yang