UNION Bank of the Philippines (UnionBank) has successfully raised P10 billion in fresh funds from a stock rights offering (SRO), said to have seen 'robust participation' from its principal shareholders.
UNION Bank of the Philippines has successfully raised P10 billion in fresh funds from a stock rights offering , said to have seen 'robust participation' from its principal shareholders.Proceeds from the SRO will be used to support its strategic growth initiatives, the bank said in disclosure.UnionBank offered 327.12 million common shares at P30.57 apiece to eligible shareholders, with one rights share offered for every 9.
The bank said the offering was fully subscribed to by its principal shareholders, Aboitiz Equity Ventures, state-run pension fund Social Security System, and Insular Life.'The strong response from our shareholders to the stock rights offering underscores their confidence in our strategic objective to become the best retail bank in the country,' said Edwin Bautista, UnionBank president and CEO.Following the offering, the bank's total outstanding shares increased to around 3.
Nets P10B From Stock Rights Offer
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
UnionBank raises P10b from stock rights offeringDefining the News
Read more »
Rice tariff reduction cost less than P10BREVENUE losses from a proposed lowering of rice tariffs will be less than P10 billion and will be worth it if inflation goes down and rice prices fall, a senior Finance department official said.
Read more »
EDC raises P10b from ASEAN green bond offeringDefining the News
Read more »
Maynilad inks P10B loan deal with MetrobankLatest Philippine news from GMA News and 24 Oras. News, weather updates and livestreaming on Philippine politics, regions, showbiz, lifestyle, science and tech.
Read more »
El Niño agri damage nears P10BAGRICULTURAL damage caused by the El Niño phenomenon has surged to P9.5 billion, with potential production losses from 163,694 hectares of crop areas, the Department of Agriculture (DA) said on Tuesday.
Read more »
Union Bank SRO shares list todayThe shares from the Union Bank stock rights offering will be listed today.
Read more »