PNB Raises Funds via Shares Sale

Tycoon Lucio Tan-led Philippine National Bank (PSE: PNB) has completed a PhP12-billion fundraising through the sale of new shares to existing stockholders.

In a disclosure to the Philippine Stock Exchange, PNB said it had issued 276.62 million shares at a preemptive rights offering at the price of PhP43.38 per share.

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