Unicapital, Inc. recently played a pivotal role in assisting Union Bank of the Philippines (UBP) to raise approximately ₱10 billion through a Stock Rights Offering (SRO). UBP offered around 327.12 million common shares at ₱30.57 per share to eligible shareholders, with a ratio of 1 rights share for every 9.1382 existing common shares held as of the record date, May 9, 2024.
The new rights shares were issued by UBP and listed on the Philippine Stock Exchange (PSE) today, May 31, 2024. The SRO received strong support from shareholders and was fully subscribed by UBP’s principal shareholders, Aboitiz Equity Ventures, the Social Security System, and Insular Life.
The proceeds from this offering will be strategically utilized by UBP to bolster its financial position and support its growth initiatives.
Unicapital, Inc. proudly served as Joint Underwriter for the SRO alongside CLSA Exchange Capital, Inc., while Citigroup Global Markets Limited acted as Capital Markets Adviser.
About Unicapital
Unicapital is a leading independent full-service investment house that offers a wide array of financial services. Focusing on the SME market, Unicapital helps clients achieve greater success by offering multiple funding solutions to suit our clients’ needs. Unicapital, Inc. has over 20 years’ experience in the Philippine capital markets and have been a part in various debt and equity transactions.
Source:
Press Release – Philippine Business Bank, Inc.: Stock Rights Offering – Additional Listing
