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Metrobank sets terms for stock rights offer
METROPOLITAN Bank & Trust Company (Metrobank) set the final terms for its approximately P60 billion stock rights offering of 799,842,250 common shares.
Eligible shareholders are entitled to subscribe to one rights share for every 3.9760 common shares held as of March 21.
The rights shares are being offered at P75.00 per rights share.
The offer price is based on a 22 percent discount to the 10-day volume-weighted average price of Metrobank common shares listed on the Philippine Stock Exchange.
The stock rights offer will commence at 9 a.m. on March 22 and end at noon on April 4. (PR)