Union Bank sets SRO entitlement ratio at 0.11:1

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Union Bank sets SRO entitlement ratio at 0.11:1
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Union Bank set the price of its stock rights offering at P30.57/share, and set the entitlement ratio at 1 rights share for every 9.1382 UBP shares owned, or 0.11 new shares for every existing share.

] set the price of its stock rights offering at P30.57/share, and set the entitlement ratio at 1 rights share for every 9.1382 UBP shares owned, or 0.11 new shares for every existing share. UBP plans to sell 327,118,089 UBP shares through this offering to raise P10 billion.That price is way below the P33.73 to P38.23 range that UBP provided last week. The market price of UBP’s shares has fallen considerably since mid-April’s P45/share level when this plan was being put together.

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