BDO Unibank sets rights issue price at 24.9% discount

Investors get to buy new shares at Ps48.60 apiece as the Philippine bank seeks to raise $1 billion through the country’s biggest ever rights offering.

BDO Unibank sets rights issue price at 24.9% discount

BDO Unibank, the Philippines’ biggest bank in terms of total assets, has fixed the price for its upcoming rights issue at Ps48.60 per share. The price represents a 24.9% discount to its 15-day volume-weighted average price VWAP and will see the bank raise about Ps43.5 billion $1 billion.

The discount is close to the maximum proposed by the bank when it first announced details of the offering almost two weeks ago. At the time...

To continue reading, please login or register for free

Print Edition

FinanceAsia Print Edition

CONFERENCES