Unicapital Helps Union Bank of the Philippines Raise Php12.00 Billion for Expansion and Digital Innovation
Unicapital, Inc. recently helped Union Bank of the Philippines (UBP) raise PhP12 billion through a Stock Rights Offering (“SRO”). UBP sold 210,970,464 common shares at an offer price of PhP56.88 per share to eligible shareholders, at a ratio of 1 rights share for every 10.1536 existing common shares.
The newly issued shares were listed on the Philippine Stock Exchange (PSE) last February 6, 2023. The offer was a resounding success as the offer shares were all sold during the mandatory first and second round of the SRO.
The proceeds from the offer will be used by UBP to solidify and support the bank’s strategic growth initiatives by expanding its balance sheet. UBP plans to deploy the proceeds to support loan availments by retail, corporate, and commercial customers, as well as to infuse capital to UnionDigital, the Bank’s digital banking arm to further support its expansion.
Unicapital, Inc. acted as Joint Global Coordinator and Joint Lead Underwriter along with CLSA Exchange Capital, Inc.
Unicapital is a leading independent full-service investment house that offers a wide array of financial service. Focusing on the SME market, Unicapital helps clients achieve greater success by offering multiple funding solutions to suit the client’s needs. Unicapital, Inc. has over 20 years’ experience in the Philippine capital markets and have been a part in various debt and equity transactions.