AYALA Corp. said on Thursday that the Securities and Exchange Commission (SEC) has given the go signal to create a unit dedicated to the logistics sector.
In a disclosure to the exchange, the company said the SEC has approved the articles of incorporation and bylaws of AC Logistics Holdings Corp. on Sept. 6.
“AC Logistics will serve as Ayala’s vehicle for investments in the logistics sector,” the company said.
BusinessWorld reached out to Ayala Corp. to ask for more details about AC Logistics, however, representatives for the company said no further details can be provided at the moment.
In 2018, Ayala Corp. via infrastructure unit AC Infrastructure Holdings, Inc. invested P1 billion for a joint venture with Brillant 1257 GmbH & Co. Vierte Verwaltungs Kg. The two launched Entrego Fulfillment Solutions, Inc., which offers delivery management of parcels, documents, and bulk deliveries of business-to-business clients and business-to-consumer units.
Meanwhile, listed AyalaLand Logistics Holdings Corp. (ALLHC) is a subsidiary of the conglomerate’s Ayala Land, Inc. ALLHC focuses on services related to real estate logistics and facilities.
On Thursday, shares of Ayala Corp. at the stock exchange went up by 0.37% or P3.00 to close at P818.00 each. — Keren Concepcion G. Valmonte