PNB lists Php12 billion in stock rights offer
July 22, 2019, Taguig City – Philippine National Bank (PSE: PNB) listed 276,625,172 common shares from its recently concluded stock rights offer, raising approximately Php12 billion, and marked by a bell-ringing ceremony at the Philippine Stock Exchange in Bonifacio Global City. Proceeds from the offering are expected to enhance PNB’s presence in emerging growth areas. PNB Capital and Investment Corporation acted as sole underwriter for the transaction. Leading the listing ceremony were members of the PNB Board of Directors (from left): Director Federico C. Pascual, Director Edgar A. Cua, Chairman Florencia G. Tarriela, President and CEO Wick A. Veloso, Director Carmen K. Tan, and Director and LT Group, Inc. Chairman & CEO Dr. Lucio C. Tan. They were joined by key PSE executives (7th from left to rightmost): Chairman Jose T. Pardo, Director Roberto Cecilio O. Lim, Director Edgardo G. Lacson, Chief Operating Officer Roel A. Refran, Corporate Secretary Atty. Aissa V. Encarnacion, and Director Emmanuel O. Bautista. The listing day coincides with the bank’s 103rd anniversary. Deutsche Bank and JP Morgan are the joint global coordinators and joint bookrunners.