China Bank to seek P15 billion via stock offering | ABS-CBN
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China Bank to seek P15 billion via stock offering
China Bank to seek P15 billion via stock offering
ABS-CBN News
Published Feb 23, 2017 04:01 PM PHT
MANILA - China Banking Corp. said Thursday it will raise P15 billion through a stock rights offering to pursue growth strategies.
MANILA - China Banking Corp. said Thursday it will raise P15 billion through a stock rights offering to pursue growth strategies.
The fund raising aims to beef up the lender's funding base to become a more significant player in the industry, China Bank president and chief executive Ricardo Chua told the stock exchange.
The fund raising aims to beef up the lender's funding base to become a more significant player in the industry, China Bank president and chief executive Ricardo Chua told the stock exchange.
"This capital raising will give us the ammunition to execute our strategy," he said.
The planned offering is subject to the approval of the Bangko Sentral ng Pilipinas and other regulatory agencies, the bank said.
China Bank shares were down 2.56 percent to P39.90 on Thursday.
"This capital raising will give us the ammunition to execute our strategy," he said.
The planned offering is subject to the approval of the Bangko Sentral ng Pilipinas and other regulatory agencies, the bank said.
China Bank shares were down 2.56 percent to P39.90 on Thursday.
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