BDO preps Philippines’ biggest equity deal

The bank seeks funding from shareholders to strengthen its balance sheet before tighter capital requirements come into force in 2019.

BDO preps Philippines’ biggest equity deal

BDO Unibank, the largest bank by assets in the Philippines, is again turning to its shareholders to raise funds, launching a Ps60 billion $1.2 billion rights offering.

The cash call will set a new record as the largest equity offering in Philippine history, overtaking the bank’s previous $1 billion rights issue in 2012 and easily dwarfing LT Group’s $915 million follow-on offering in 2013.

But in reality only $540...

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