{"id":147146,"date":"2018-01-18T00:40:13","date_gmt":"2018-01-18T05:40:13","guid":{"rendered":"https:\/\/canadianinquirer.net\/v1\/?p=147146"},"modified":"2018-01-18T00:46:10","modified_gmt":"2018-01-18T05:46:10","slug":"metrobank-plans-to-raise-fresh-capital-thru-sro","status":"publish","type":"post","link":"https:\/\/canadianinquirer.net\/v1\/2018\/01\/18\/metrobank-plans-to-raise-fresh-capital-thru-sro\/","title":{"rendered":"Metrobank plans to raise fresh capital thru SRO"},"content":{"rendered":"
\"Banking<\/a>
Banking giant Metropolitan Bank & Trust Company plans to raise fresh capital to finance the expansion of its loan portfolio and acquisition of a stake in a credit card provider. (Photo<\/a> by Jun Acullador\/Flickr<\/a>, CC BY-ND 2.0<\/a>)<\/figcaption><\/figure>\n

MANILA \u2013 Banking giant Metropolitan Bank & Trust Company plans to raise fresh capital to finance the expansion of its loan portfolio and acquisition of a stake in a credit card provider.<\/p>\n

Metrobank told the local bourse that its board of directors approved on Wednesday a Stock Rights Offering (SRO) of up to 819,827,214 common shares equivalent to the remaining unissued shares from its authorized capital stock.<\/p>\n

The timing and size of the transaction are still subject to offer price and receipt of regulatory approvals, as well as market and other conditions.<\/p>\n

Metrobank is optimistic that the robust growth of the Philippines will continue to support the prospects for accelerated loan expansion across the various segments of the economy.<\/p>\n

It seeks to capitalize on the growth opportunities of large cap corporates and the middle market and small to medium enterprises (SME) segments, its core franchise.<\/p>\n

\u201cThe capital raising exercise is expected to enable the Bank to pursue these business prospects to sustain the loan growth momentum,\u201d said the bank.<\/p>\n

As it focuses on higher-return segments, Metrobank said a portion of the SRO proceeds would be used for the acquisition of the remaining 20-percent equity stake in Metrobank Card Corp. (MCC).<\/p>\n

Metrobank has purchased a 20-percent stake from its joint venture partner ANZ Funds Pty. Ltd. (ANZ) for PHP7.4 billion following receipt of Bangko Sentral ng Pilipinas (BSP) approval last December 29.<\/p>\n

\u201cThe remaining 20 percent is set to be completed by third quarter (of) 2018 under the same terms,\u201d it said.<\/p>\n

The Bank has mandated UBS as joint global coordinator and joint book runner and First Metro Investment Corp. (FMIC) as joint global coordinator, joint book runner and issue manager.<\/p>\n","protected":false},"excerpt":{"rendered":"

MANILA \u2013 Banking giant Metropolitan Bank & Trust Company plans to raise fresh capital to finance the expansion of its …<\/p>\n","protected":false},"author":33,"featured_media":147147,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19],"tags":[43778,18062,43779],"class_list":["post-147146","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-fresh-capital","tag-metropolitan-bank-trust-company","tag-stock-rights-offering","mauthors-philippine-news-agency"],"_links":{"self":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/147146","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/users\/33"}],"replies":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/comments?post=147146"}],"version-history":[{"count":0,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/147146\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media\/147147"}],"wp:attachment":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media?parent=147146"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/categories?post=147146"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/tags?post=147146"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}