The universal bank, which acquired Citi's consumer banking over a year ago, hopes to raise P12 billion from the offering.
The offer price was determined by computing the volume-weighted average price of UnionBank’s common shares on the PSE for each of the 15 consecutive trading days prior to and including October 28, 2022 with a discount of around 25 to 30%, according to the preliminary offer terms sheet.
It disclosed to the PSE that its latest projections show that it can raise internally its additional capital requirements from its existing business. UnionDigital seeks to empower Filipinos by helping build the country’s digital economy. The BSP granted it a Certificate of Authority to operate as a digital bank on July 12, 2022. Inc.’s consumer banking business in the Philippines for P55 billion , edging out larger banks that had drawn bids.
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