BDO Unibank to seek $1 billion from rights issue in June

BDO Unibank, the Philippines’ largest bank in terms of total assets, has received approval from the Philippine Stock Exchange for its planned rights issue and said late last week that the offer period will run from June 18 to 27. It also confirmed that it will seek to raise $1 billion from the deal, making it one of the largest follow-on share issues ever in the Philippines.