UNIONBANK of the Philippines, Inc. set the final price for its stock rights offering (SRO) at P56.88 per share, a 36.65% discount from its Thursday close at the stock market.
UNIONBANK of the Philippines, Inc. set the final price for its stock rights offering at P56.88 per share, a 36.65% discount from its Thursday close at the stock market.
“The offer price was determined based on the volume-weighted average price of the bank’s common shares on the Philippine Stock Exchange for each of the 15 consecutive trading days immediately prior to Jan 4, 2023 and applying a discount of 30%,” it said. UnionDigital is the listed lender’s digital bank and was granted a license by the Bangko Sentral ng Pilipinas in July 2021. It began operating in July 2022.The bank said the entitlement ratio for the SRO is one rights share per 10.1536 common shares as of Jan. 12.
UnionBank posted a net profit of P4 billion in the third quarter of 2022, higher by 17% from P3.4 billion in the comparable year-ago period.
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