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...

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