April 22, 2022
AYALALAND LOGISTICS Holdings Corp. stockholders on Thursday approved an increase in the company’s authorized capital stock of up to P10 billion to fund its growth plans.
This will be “used as funding source for the company’s expansion projects and growth plans,” Francis M. Montojo, chief finance officer of the company, said during its annual stockholders’ meeting.
This will be done “through the creation of up to P5-billion nonvoting preferred shares with a par value of P1 per share and the increase of common shares from P7.5 billion to P12.5 billion, with a par value of P1 per share,” she also said.
The company’s existing authorized capital stock is P7.5 billion, divided into 7.5 billion common shares, with a par value of P1 per share.
The stockholders also approved the delegation to the board of directors of the final terms of the issuance of the shares and the features of the preferred shares, the implementation of the proposed increase in authorized capital stock, and the creation of the preferred shares.
The company saw its attributable net income for 2021 increase 10.98% to P799.97 million from P702.81 million a year earlier.
Its total revenues reached P4.30 billion, up 15.59% from P3.72 billion in 2020.
The company is aiming to be a “dominant player” in the real estate logistics sector.
It is aiming to expand its presence across the country. It is currently present in Metro Manila, Laguna, Cavite, Batangas, Pampanga, and Laguindingan in Northern Mindanao.
The company has also said it aims to grow its warehouse gross leasable area to 500,000 square meters (sq.m.) by 2025 from its current 224,000 sq.m.
Its core business segments include industrial and logistics hubs, warehousing, cold storage, and data centers.
In 2021, the company acquired Technofreeze, Inc., a cold storage facility located in Laguna Technopark. — Arjay L. Balinbin