METROBANK STOCKS RIGHTS OFFER: P75 PER SHARE
Ty family-led Metropolitan Bank & Trust Co. has priced its stock rights offering at P75 per share, finalizing a P60-billion capital-raising which will support a fast-growing loan book in the coming years.
The offer price is based on a 22 percent discount to the10-dayvolume-weighted average price of Metrobank commonshareslistedonthe Philippine Stock Exchange.
Eligible shareholders are entitled to subscribe to one share for every 3.976 common shares held as of the record date March 21, Metrobank disclosed to the stock exchange on Wednesday.
The stock rights offer will commence at 9 a.m. onMarch22andendat12 p.m. on April 4.