Others 1 MIN READ

Philippines’ Bank of Commerce prices $64 mln IPO

March 11, 2022By Reuters

Philippines’ Bank of Commerce priced its initial public offering at 12 pesos ($0.23) per share on Friday, the company said in a stock exchange filing, making it the first lender to list on the stock exchange in nine years.

The bank, owned by conglomerate San Miguel Corp SMC.PS, will raise 3.37 billion pesos ($64.45 million) in the Southeast Asian nation’s fourth initial public offering this year. Price guidance and maximum filing price was up to 12.50 apiece, with listing set on March 31.

($1 = 52.30 Philippine pesos)

(Reporting by Neil Jerome Morales; Editing by Martin Petty)

((neiljerome.morales@thomsonreuters.com; +632 8841 8914;))

This article originally appeared on reuters.com

Read More Articles About: