Aboitiz Group's UnionBank will launch a PHP 40B offer

INQUIRER.NET

Apr 1, 2022

EXCERPT


The deal prospectus showed as much as 800 million shares would be offered at a price range of P64.55 per share to P73.78 per share or an average discount of 25-35 percent.


The entire offer was valued at P51.6 billion to P59 billion, however, UnionBank indicated in the prospectus it wanted to cap the proceeds at P40 billion, meaning a smaller number of shares would likely be offered once the terms are finalized.


The offer shares will be priced on April 4 this year while the ex-rights date was set on April 6. The actual offer period runs from April 25 until May 6 while the shares will be listed on May 16 this year.


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