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April 21, 2024

UnionBank to raise P12B in stock rights offering

The Bank eyes a target of P12 billion for its stock rights offering.

Union Bank of the Philippines has set a target of up to P12 billion for its stock rights offering.

UnionBank, through the local bourse, announced the October 28 decision of its board of directors’ green light for its capital raising activities, primarily the P12-billion stock rights offering.

The bank’s balance sheet projections show that any additional capital requirements above P12 billion can be internally generated from existing businesses.

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