ACEN invests $522k to ENEX Corp

It subscribed to 30 million non-voting preferred shares.

ACEN Corporation signed a subscription contract to its subsidiary ENEX Corporation with a total transaction value of around $522,100 (P30m).

In a disclosure, ACEN said it subscribed to 30 million non-voting preferred shares at a par value of $0.017 (P1.00) per share.

ALSO READ: ACEN bags $150m green loan

“The Subscription Price will be used to fund the operational requirements of ENEX, and transaction costs for the creation and issuance of the Preferred Shares,” it said.

ACEN is a principal stockholder of ENEX, a company involved in oil and gas exploration and production.

$1 = P57.46

ACEN

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