BDO Unibank rights issue

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

The Philippine bank gets the go-ahead for its proposed rights issue and says it will fix the price on June 5 at a discount of up to 20% to 25% versus the 10- to 15-day VWAP.
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BDO is aiming to broaden its product offering
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<div style="text-align: left;"> BDO is aiming to broaden its product offering </div>

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.

The price will be set on June 5 and will offer a discount of up to 20% to 25% versus the 10- to 15-day volume-weighted average price VWAP leading up to that date. The one-for-three share offering will result in the issuance of...

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