BPI lists P25-B shares from stock rights offer
MANILA, Philippines - The Bank of the Philippine Islands (BPI) listed on the Philippine Stock Exchange the P25 billion worth of shares it issued through a recent stock rights offer.
BPI president Cezar Consing says they will use the proceeds to boost the bank's loan books, build more branches and comply with regulators' capital rules.
BPI joins at least four other listed companies that have been rushing to raise cheap funds ahead of an expected rise in domestic interest rates.
ANC Dateline Philippines, February 10, 2014