Security Bank Corp., on Tuesday listed new shares issued to Japanese banking giant Bank of Tokyo-Mitsubishi UFJ Ltd. (BTMU), which the latter earlier bought for P36.9 billion.
In a disclosure to the Philippine Stock Exchange, the Dy-led bank said that it listed 150.707 million in new common shares in the name of BTMU.
Tuesday’s listing brought Security Bank’s total listed stock to more than 753.54 million common shares. Based on the bank’s trading price of P198 to P200 apiece, Security Bank’s market capitalization stands at about P150 billion ($ 3.2 billion) given SECB’s stock price trading in the P198 to P200 per share range in recent days.
Security Bank’s shareholders’ capital was also at P 92.9 billion, the fifth largest amount private domestic universal banks in the Philippines.
The Security Bank-BTMU transaction was completed on April 1.
The equity investment made by BTMU reached P36.9 billion in exchange for the issuance of 150.7 million common shares at P245 apiece and 200 million preferred shares at P 0.10 per share to BTMU.
“This equity investment is to date the largest foreign direct investment in a Philippine financial institution,” Security Bank told the local bourse.
“We thank the Bangko Sentral ng Pilipinas and the Philippine Stock Exchange for their vital support of the Security Bank-BTMU strategic partnership,” Alberto Villarosa, chairman of the board of Security Bank, said.
Villarosa noted the the partnership gives Security Bank as an equity affiliate of BTMU additional capabilities to service key critical requirements of the country’s economy, such as in the areas of infrastructure and project finance, retail finance international banking and wealth management.
“BTMU’s parent, Mitsubishi UFJ Financial Group [MUFG], is one of the world’s largest and most diversified financial groups with core strengths in such areas,” he added.
BTMU is the second largest shareholder of Security Bank, while the Dy Group is the biggest shareholder of Security Bank with majority voting control.