An entity issued 2,000 convertible bonds. The bonds have a three-year term, and are issued at par with a face value of P1,000 per bond. Interest is payable annually in arrears at a nominal annual interest rate of 6 per cent. Each bond is convertible at any time up to maturity into 250 ordinary shares. When the bonds are issued, the prevailing market interest rate for similar debt without a conversion option is 9 per cent. At the issue date, the market price of one ordinary share is P3. The issuance of convertible bonds increased the entity's equity by