Ayala Corp aims to raise $1 billion from sale of non-core assets

MANILA — Ayala Corp said on Wednesday it aims to raise $1 billion from non-core assets this year.

"Ayala confirms that it targets to raise $1 billion from the sale of non-core assets," it said in a disclosure to the stock exchange.

The conglomerate did not further elaborate on the specific assets for sale. 

Additionally, Ayala Corp also said it remains "opportunistic" in Light Rail Manila Corp and "may or may not divest its stake."

LRMC operates the LRT-1. 

• Ayala Corp posts P10.2-B net income in Q1, up 31 pct
• Ayala Corp posts P27 billion net income in 2022
• Ayala Corp sets P264-B capex for 2023

FROM THE ARCHIVES