PSE - Philippine Stock Exchange Inc.
PSE - Philippine Stock Exchange Inc.
05/16/2022 | Press release | Distributed by Public on 05/16/2022 02:47
Union Bank raises P40B from SRO
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Union Bank raises P40B from SRO
- Monday, May 16, 2022
Union Bank of the Philippines (UBP) listed its stock rights offer (SRO) shares at the Philippine Stock Exchange (PSE) on Monday, May 16, 2022. The Php 40 billion raised from the SRO will be used by the bank to pay for its acquisition of the Philippine consumer banking business of Citigroup, Inc.
In his welcome remarks, PSE President and CEO Ramon S. Monzon cited the bank's acquisition of Citigroup, Inc.'s local business. He said, this "will turbocharge UBP's expansion in the retail banking space." Mr. Monzon likewise mentioned UBP's receipt of a digital banking license and said, "This is not surprising considering UBP's proven track record as a forward-thinking bank that is constantly pushing the tech envelope forward."
Photo 1 (from left, by row): UBP President and CEO Edwin R. Bautista and PSE COO Atty. Roel A. Refran; UBP Director Nina D. Aguas, UBP Director Sabin M. Aboitiz, PSE President and CEO Ramon S. Monzon and PSE Issuer Regulation Division Head Atty. Marigel B. Garcia; UBP Directors Michael G. Regino and Ana Maria A. Delgado, UBP Treasurer and Global Markets Head Mr. Jose Emmanuel U. Hilado and Securities Clearing Corporation of the Philippines COO Renee D. Rubio.
Photo 2 (from left, by row): UBP President and CEO Edwin R. Bautista, UBP Director Sabin M. Aboitiz, PSE President and CEO Ramon S. Monzon, PSE Chairman Jose T. Pardo; UBP Independent Director Manuel D. Escueta, PSE Director Ferdinand K. Constantino, UBP Directors Manuel R. Lozano and Samel A. Aboitiz, PSE Director Consuelo D. Garcia, UBP Independent Director Roberto G. Manabat, UBP Director Ricardo L. Moldez; CLSA Exchange Capital, Inc. Investment Banking Head Paolo Antonio L. Azurin, UBP EVP and Chief HR Officer Michaela Sophia E. Rubio, UBP Independent Directors Francisco Ed. Lim and Josiah L. Go, UBP SVP and Financial Controller Francis B. Albalate, ING Bank Country Manager for the Philippines Hans B. Sicat and PSE Corporate Secretary Atty. Aissa V. Encarnacion.