East West Banking launches Philippine IPO of up to $135 million

The mid-size bank hits the market shortly after GT Capital prices its $438 million IPO and as the Philippine stock market continues to outperform its Asian peers.

East West Banking launches Philippine IPO of up to $135 million
East West Banking, which targets retail and mid-market corporate customers, aims to become the second company to list in the Philippines this year (AFP)

East West Banking Corp EWBC, a medium-sized commercial bank in the Philippines, yesterday launched the institutional roadshow and bookbuilding for an initial public offering of between Ps4.5 billion and Ps5.8 billion $106 million to $135 million.

The deal comes hot on the heels of a well-received IPO for conglomerate GT Capital, which will be the first Philippine listing this year when it starts trading on April 20 and the largest in more than...

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