The Bank of the Philippine Islands (BPI) has raised as much as P25 billion through a stock rights offering, capping the largest capital market transaction it has done in its history.

A filing with the Philippine Stock Exchange on Tuesday showed that BPI has concluded its stock rights offer, and raised P25 billion with an issuance of 370 million common shares at P67.50 a share. The shares issued were at a ratio of 1:9.602 common shares held or 10.4 percent of outstanding shares.

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