East West Banking Corp., led by the Gotianun family, has set the price range for its stock rights offering at P10.80 to P11.05 per share, with a par value of P10 each. The bank targets to raise around P9 billion through the offer, which will be listed on the Philippine Stock Exchange.
Eligible shareholders as of the record date on November 19 will be entitled to subscribe to one rights share for every 2.70 to 2.76 common shares held. Principal shareholders—Filinvest Development Corp. and its unit FDC Ventures Inc.—have committed to act as standby purchasers, directly or through wholly owned subsidiaries, for any unsubscribed institutional offer shares, subject to regulatory approval. EastWest said this move reflects strong shareholder confidence in its growth strategy and long-term outlook.
As of June, the bank held total assets worth P623.9 billion and managed one of the country’s largest consumer loan portfolios at P337.6 billion. Key final details including offer size, entitlement ratio, pricing, and timeline will be confirmed and announced once all necessary regulatory approvals are secured.
“This proposed rights offering positions EastWest for its next phase of growth while giving our existing shareholders the opportunity to participate in the bank’s long-term value creation,” said CEO Jerry G. Ngo. “The additional capital will support continued expansion across our core businesses and enhance our ability to pursue strategic opportunities in a fast-evolving financial landscape, while strengthening our balance sheet.”
Funds raised will support strategic goals and expansion plans, including the build-out of wealth and priority banking services, investment in digital transformation, and funding loan growth across retail and business segments. Proceeds may also be used for general corporate and financing needs. AB Capital and Investment Corp. serves as the issue manager and sole underwriter for the transaction.
The capital hike bolsters EastWest’s financial standing, fuels digital and business expansion, and underscores major shareholders’ solid backing—key to competing in the country’s dynamic banking sector.
