East West Banking is set to raise $106 million from Philippine IPO

The mid-sized bank fixes the price at the low end after the institutional tranche is about two times covered.

East West Banking is set to raise $106 million from Philippine IPO

East West Banking Corp, a medium-sized commercial bank in the Philippines, has set the price of its initial public offering at the bottom of the range and is set to raise Ps4.5 billion $106 million ahead of its listing on May 7.

The issuer, which provides banking services to retail and mid-market corporate customers under the name of EastWest Bank, priced the deal yesterday at Ps18.50 a share. The shares were marketed in a...

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