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April 21, 2024

Gokongwei firm to get higher stake under Robinsons Bank merger

The Gokongwei Group is set to get more shares under the recently announced merger of its banking arm with BPI.

BPI’s board of directors gave the green light on the the issuance of up to 318.91 million common shares to the Gokongwei Group pursuant to the merger with Robinsons Bank Corp. JG Summit Holdings Inc. said the shareholders of Robinsons Bank, would jointly hold about six percent of the subsequent outstanding capital stock of BPI. BPI currently has 4.92 billion issued shares at P99.55 per share, translating into 295,000 common shares.