Philippine National Bank (PNB) opened the trading week with the listing of its stock rights offering (SRO) shares at the Philippine Stock Exchange (PSE) on Monday, July 22. PNB raised Php 12 billion from the offering.
I understand that the company will be using funds raised from this SRO to further boost its core capital, spur loan growth, and finance development of digital initiatives and products and services. All these undertakings will help improve the company’s operations. These will also benefit PNB’s clients, which avail of the bank’s wide range of products and services through its more than 700 branches domestically and the over 70 branches, representative offices, remittance centers and subsidiaries in 16 countries,” said PSE Chairman Jose T. Pardo in his welcome remarks during the listing ceremony.
Shown in the photo (from left): PNB Directors Mr. Federico C. Pascual and Mr. Edgar A. Cua; PNB Chairperson Ms. Florencia G. Tarriela; PNB President and CEO Mr. Jose Arnulfo A. Veloso; PNB Director Ms. Carmen K. Tan; PNB Director and LT Group, Inc. Chairman Dr. Lucio C. Tan; PSE Chairman Jose T. Pardo; PSE Directors Messrs. Roberto Cecilio O. Lim and Edgardo G. Lacson; PSE Chief Operating Officer Mr. Roel A. Refran; PSE Corporate Secretary Atty. Aissa V. Encarnacion and PSE Director Mr. Emmanuel O. Bautista.