<article><a style="color: #000080" href="https://www.metrobank.com.ph">Metropolitan Bank &amp; Trust Company </a> (Metrobank), a premier universal bank in the Philippines, has launched its planned P32 billion ($714.2 million) stocks rights offer (SRO) meant to strengthen its capital expansion.</article>

<a style="color: #000080" href="https://www.metrobank.com.ph">Metropolitan Bank &amp; Trust Company </a> (Metrobank), a premier universal bank in the Philippines, has launched its planned P32 billion ($714.2 million) stocks rights offer (SRO) meant to strengthen its capital expansion.
The financial conglomerate disclosed to the stock exchange on Wednesday that it was offering 435,371,720 shares at P73.50 apiece. The offer period is currently ongoing and is scheduled to close on March 27, 2015 at 12:00 noon, Manila time.
As of this writing, eligible shareholders are entitled to subscribe to one Rights Share for every 6.3045 common shares.
Present shareholders entitled to participate are those located in the Philippines, including those located in jurisdictions outside the country and outside the United States where it is legal to participate in the SRO under the securities laws of such jurisdictions.
The SRO, however, is not being made to shareholders who are located or who reside in the US.
Metrobank recently announced that it plans to use its expanded capital base for capacity building by increasing its sales coverage and distribution network. Among its target customers for its improved financial products are consumers and small and medium-sized enterprises.
J.P. Morgan and UBS are acting as Joint Global Coordinators, Joint International Lead Managers and Joint Bookrunners for the transaction. First Metro Investment Corporation isacting as Sole Domestic Lead Manager and Joint Bookrunner while HSBC is acting as co-manager.
Metrobank is among the five largest banks in the Philippines with its network of 920 domestic branches and 2,100 automated machines. The bank was rated as 314th in the Top 1,000 Global Banks Ranking 2014 report of the UK financial magazine The Banker.
Metrobank&#8217;s last traded price was at P95.00, up by 0.67 per cent or 0.65 to yesterday&#8217;s P96.35.
Also read: <a style="color: #ff0000" href="http://www.dealstreetasia.com/stories/metrobank-increase-capital-721m-2277/">Metrobank to increase capital by $721m</a>

Metrobank, premier universal bank in the Philippines, has launched its planned $714.2 million stocks rights offer (SRO) meant to strengthen its capital expansion.


Metrobank launches $714.2m rights offer in PH

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Metrobank launches $714.2m rights offer in PH

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