The Philippine Stock Exchange (PSE) has given the green light to the planned stocks rights offering of Philippine National Bank (PNB), wherein the Lucio Tan-listed bank intends to raise as much as P6.5 billion.
A memorandum posted at the PSE website showed that the local bourse approved the application of PNB to list up to an additional 163 million common shares, with a par value of P40 each shares to cover the bank’s stock rights offering to all stockholders of record as of January 16, 2014.
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