source: http://www.pbb.com.ph |
Another news of a possible IPO either late this year or early 2013.
From Inquirer.net
Philippine Business Bank plans to raise P3B from IPO
By: Doris C. DumlaoPhilippine Daily Inquirer 12:32 pm | Monday, July 30th, 2012
MANILA, Philippines–Philippine Business Bank, the thrift banking arm
of the Zest-O group, plans to raise P3 billion from an initial public
offering late this year or in early 2013.
In an interview last week, PBB president Roland Avante said the bank
was looking to offer 20-30 percent of its shares to the public, thus
beefing up fresh funds for expansion. The offer will comprise only
primary shares, which means that all proceeds would be plowed into the
bank.
“It’s really more as a strategic move to be able to maybe expand
business further and then, (raise funds) as an added ammunition. We’re
building a war chest for possible acquisition and investments in the
horizon of over two to three years if there will be a license upgrade,”
Avante said.
PBB chair Alfredo Yao had previously said if the thrift bank were to
upgrade its banking license, it would go for universal banking than
regular commercial banking operations.
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